Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Bought by Dundas Partners LLP

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Dundas Partners LLP grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.8% during the second quarter, HoldingsChannel reports. The firm owned 612,604 shares of the semiconductor company’s stock after buying an additional 4,899 shares during the period. Tower Semiconductor accounts for 2.3% of Dundas Partners LLP’s portfolio, making the stock its 23rd largest position. Dundas Partners LLP’s holdings in Tower Semiconductor were worth $9,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TSEM. Dimensional Fund Advisors LP lifted its position in Tower Semiconductor by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 392,330 shares of the semiconductor company’s stock worth $5,783,000 after buying an additional 1,973 shares during the last quarter. Geode Capital Management LLC lifted its position in Tower Semiconductor by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 72,688 shares of the semiconductor company’s stock worth $1,070,000 after buying an additional 3,417 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $3,620,000. Norges Bank bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $23,491,000. Finally, Deutsche Bank AG lifted its position in shares of Tower Semiconductor by 86.4% during the fourth quarter. Deutsche Bank AG now owns 309,076 shares of the semiconductor company’s stock worth $4,555,000 after purchasing an additional 143,258 shares during the last quarter. Institutional investors own 52.34% of the company’s stock.

TSEM has been the subject of several research analyst reports. BidaskClub upgraded Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, June 29th. ValuEngine upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Credit Suisse Group downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $17.71 target price for the company. in a research report on Wednesday, April 24th. Finally, TheStreet lowered Tower Semiconductor from a “b-” rating to a “c” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $23.29.

Shares of NASDAQ TSEM opened at $19.54 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.99 and a current ratio of 4.82. The firm has a market capitalization of $1.92 billion, a P/E ratio of 12.94, a PEG ratio of 2.19 and a beta of 1.31. The business has a 50-day simple moving average of $17.58. Tower Semiconductor Ltd. has a fifty-two week low of $13.56 and a fifty-two week high of $22.62.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The business had revenue of $306.06 million during the quarter, compared to the consensus estimate of $303.15 million. Tower Semiconductor had a return on equity of 11.19% and a net margin of 9.34%. The company’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the company earned $0.42 earnings per share. On average, analysts expect that Tower Semiconductor Ltd. will post 0.89 EPS for the current year.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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