Edmond DE Rothschild Holding S.A. raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 41.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,322 shares of the semiconductor company’s stock after purchasing an additional 20,174 shares during the period. Edmond DE Rothschild Holding S.A. owned about 0.07% of Tower Semiconductor worth $1,645,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Tower Semiconductor by 34.8% during the 1st quarter. Wellington Management Group LLP now owns 4,450,943 shares of the semiconductor company’s stock valued at $102,595,000 after acquiring an additional 1,148,547 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Tower Semiconductor by 6.0% during the 1st quarter. Macquarie Group Ltd. now owns 1,596,708 shares of the semiconductor company’s stock valued at $36,804,000 after acquiring an additional 90,791 shares during the last quarter. Hodges Capital Management Inc. increased its stake in shares of Tower Semiconductor by 15.3% during the 2nd quarter. Hodges Capital Management Inc. now owns 1,327,830 shares of the semiconductor company’s stock valued at $31,669,000 after acquiring an additional 175,855 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Tower Semiconductor by 27.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,145,186 shares of the semiconductor company’s stock valued at $26,397,000 after acquiring an additional 247,500 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in shares of Tower Semiconductor by 14.4% during the 2nd quarter. Rice Hall James & Associates LLC now owns 1,039,609 shares of the semiconductor company’s stock valued at $24,795,000 after acquiring an additional 130,717 shares during the last quarter. Institutional investors own 49.38% of the company’s stock.
A number of research analysts have recently commented on TSEM shares. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 price objective on shares of Tower Semiconductor in a research note on Friday, June 9th. Finally, BidaskClub raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Tower Semiconductor has an average rating of “Buy” and a consensus price target of $31.50.
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Tower Semiconductor Ltd. (TSEM) opened at 30.02 on Friday. Tower Semiconductor Ltd. has a 1-year low of $14.83 and a 1-year high of $30.44. The firm has a market cap of $2.94 billion, a P/E ratio of 15.37 and a beta of 1.02. The stock’s 50 day moving average is $27.23 and its 200-day moving average is $24.69.
Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. Tower Semiconductor had a return on equity of 28.28% and a net margin of 14.53%. The firm had revenue of $345.10 million during the quarter, compared to analyst estimates of $344.98 million. During the same period last year, the company posted $0.45 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts forecast that Tower Semiconductor Ltd. will post $2.05 EPS for the current year.
About Tower Semiconductor
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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