Tower Semiconductor Ltd. $TSEM Shares Purchased by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 26,835.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 308,412 shares of the semiconductor company’s stock after purchasing an additional 307,267 shares during the period. GF Fund Management CO. LTD.’s holdings in Tower Semiconductor were worth $36,214,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TSEM. Amundi increased its position in shares of Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after buying an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tower Semiconductor by 4.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after buying an additional 3,954 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tower Semiconductor by 0.7% in the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after buying an additional 662 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Tower Semiconductor in the second quarter valued at $438,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Tower Semiconductor in the second quarter valued at $5,809,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wedbush raised their price target on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Susquehanna restated a “positive” rating and issued a $180.00 price target on shares of Tower Semiconductor in a research report on Thursday, February 12th. Benchmark raised their price target on Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Barclays raised their price target on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Tower Semiconductor currently has an average rating of “Hold” and a consensus price target of $173.00.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $226.45 on Friday. Tower Semiconductor Ltd. has a fifty-two week low of $34.47 and a fifty-two week high of $227.23. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of 117.33 and a beta of 0.71. The business has a fifty day moving average of $155.74 and a 200-day moving average of $122.88. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The company had revenue of $440.21 million during the quarter, compared to analysts’ expectations of $439.81 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Tower Semiconductor Company Profile

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.