Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,053 shares of the semiconductor company’s stock after purchasing an additional 2,456 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tower Semiconductor were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in Tower Semiconductor in the 1st quarter valued at about $115,000. Dupont Capital Management Corp raised its stake in Tower Semiconductor by 24.4% in the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 1,219 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in Tower Semiconductor in the 1st quarter valued at about $217,000. JPMorgan Chase & Co. raised its stake in Tower Semiconductor by 319.3% in the 1st quarter. JPMorgan Chase & Co. now owns 10,194 shares of the semiconductor company’s stock valued at $235,000 after purchasing an additional 7,763 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Tower Semiconductor by 12.7% in the 1st quarter. Sei Investments Co. now owns 10,593 shares of the semiconductor company’s stock valued at $244,000 after purchasing an additional 1,190 shares during the last quarter. 49.38% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on TSEM shares. BidaskClub raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. 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, ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Tower Semiconductor has an average rating of “Buy” and an average target price of $31.50.
Tower Semiconductor Ltd. (TSEM) opened at 29.00 on Wednesday. The stock’s 50 day moving average is $26.93 and its 200-day moving average is $24.53. The firm has a market cap of $2.84 billion, a P/E ratio of 14.85 and a beta of 1.02. Tower Semiconductor Ltd. has a 1-year low of $14.83 and a 1-year high of $30.44.
Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share 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 company had revenue of $345.10 million during the quarter, compared to the consensus estimate of $344.98 million. During the same period last year, the business earned $0.45 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts forecast that Tower Semiconductor Ltd. will post $2.05 EPS for the current year.
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Tower Semiconductor 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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