Macquarie Group Ltd. raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,796,395 shares of the semiconductor company’s stock after buying an additional 26,386 shares during the quarter. Macquarie Group Ltd.’s holdings in Tower Semiconductor were worth $61,221,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of TSEM. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Tower Semiconductor in the fourth quarter valued at $22,891,000. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Tower Semiconductor in the third quarter valued at $18,035,000. Acadian Asset Management LLC raised its stake in shares of Tower Semiconductor by 50.6% in the fourth quarter. Acadian Asset Management LLC now owns 688,437 shares of the semiconductor company’s stock valued at $23,463,000 after buying an additional 231,396 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Tower Semiconductor in the fourth quarter valued at $6,371,000. Finally, Monarch Partners Asset Management LLC raised its stake in shares of Tower Semiconductor by 22.5% in the fourth quarter. Monarch Partners Asset Management LLC now owns 611,935 shares of the semiconductor company’s stock valued at $20,855,000 after buying an additional 112,365 shares during the period. Hedge funds and other institutional investors own 47.71% of the company’s stock.
TSEM has been the topic of several research reports. Drexel Hamilton restated a “buy” rating and issued a $46.00 target price on shares of Tower Semiconductor in a research note on Wednesday, November 29th. BidaskClub lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC boosted their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 30th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Tower Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $43.75.
Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Thursday, February 22nd. The semiconductor company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $358.00 million for the quarter, compared to analyst estimates of $358.10 million. Tower Semiconductor had a return on equity of 26.17% and a net margin of 21.48%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. research analysts anticipate that Tower Semiconductor Ltd. will post 2.17 earnings per share for the current year.
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Tower Semiconductor Company Profile
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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