Granahan Investment Management LLC Has $6.67 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Granahan Investment Management LLC decreased its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 68.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,795 shares of the semiconductor company’s stock after selling 121,393 shares during the period. Granahan Investment Management LLC’s holdings in Tower Semiconductor were worth $6,669,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the 4th quarter worth $27,000. CIBC Private Wealth Group LLC grew its stake in shares of Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter worth $52,000. SBI Securities Co. Ltd. grew its stake in shares of Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 403 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter worth $68,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $268.53 on Wednesday. Tower Semiconductor Ltd. has a 1 year low of $38.67 and a 1 year high of $302.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The firm has a market cap of $30.20 billion, a price-to-earnings ratio of 124.90 and a beta of 0.87. The company has a fifty day moving average price of $237.11 and a 200-day moving average price of $168.76.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The business had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same quarter last year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSEM. Susquehanna upped their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Wedbush upped their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Benchmark upped their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Hold” and an average price target of $276.75.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.