Capstone Capital Management Ltd increased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report) by 47.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,509 shares of the semiconductor company’s stock after acquiring an additional 3,372 shares during the quarter. Tower Semiconductor comprises approximately 0.9% of Capstone Capital Management Ltd’s investment portfolio, making the stock its 18th largest holding. Capstone Capital Management Ltd’s holdings in Tower Semiconductor were worth $2,390,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TSEM. Hanson & Doremus Investment Management acquired a new position in shares of Tower Semiconductor in the 1st quarter valued at approximately $53,000. Versant Capital Management Inc increased its stake in shares of Tower Semiconductor by 20.8% in the third quarter. Versant Capital Management Inc now owns 319 shares of the semiconductor company’s stock worth $73,000 after buying an additional 55 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of Tower Semiconductor by 230.7% in the second quarter. TD Waterhouse Canada Inc. now owns 334 shares of the semiconductor company’s stock worth $82,000 after buying an additional 233 shares during the last quarter. Greenleaf Trust acquired a new stake in Tower Semiconductor in the second quarter valued at $201,000. Finally, Western Wealth Management LLC acquired a new stake in Tower Semiconductor in the first quarter valued at $141,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Tower Semiconductor Price Performance
Shares of TSEM opened at $183.78 on Wednesday. Tower Semiconductor Ltd. has a 52 week low of $71.64 and a 52 week high of $319.94. The company has a current ratio of 4.91, a quick ratio of 4.31 and a debt-to-equity ratio of 0.04. The firm has a market cap of $20.67 billion, a price-to-earnings ratio of 79.17 and a beta of 0.89. The stock has a 50 day moving average of $222.95 and a 200-day moving average of $232.89.
Tower Semiconductor (NASDAQ:TSEM – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.12. The business had revenue of $460.08 million for the quarter, compared to analyst estimates of $454.68 million. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. As a group, analysts forecast that Tower Semiconductor Ltd. will post 3.56 EPS for the current year.
Insiders Place Their Bets
In other news, CEO Russell Ellwanger sold 104,226 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $248.34, for a total value of $25,883,484.84. Following the transaction, the chief executive officer directly owned 526,788 shares in the company, valued at approximately $130,822,531.92. This trade represents a 16.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yoav Chelouche sold 232 shares of Tower Semiconductor stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $215.06, for a total transaction of $49,893.92. Following the completion of the transaction, the director directly owned 33,734 shares of the company’s stock, valued at $7,254,834.04. This trade represents a 0.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 181,767 shares of company stock valued at $45,610,065. 1.00% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Benchmark reiterated a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, August 5th. Mizuho began coverage on shares of Tower Semiconductor in a research report on Friday, September 25th. They issued an “outperform” rating and a $300.00 target price for the company. Weiss Ratings downgraded shares of Tower Semiconductor from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. National Bank Financial upgraded shares of Tower Semiconductor to a “buy” rating in a research note on Friday, August 7th. Finally, Barclays initiated coverage on shares of Tower Semiconductor in a research note on Friday, September 18th. They issued an “overweight” rating and a $310.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $316.00.
Get Our Latest Stock Analysis on TSEM
Tower Semiconductor Profile
Tower Semiconductor Ltd. is an Israeli specialty semiconductor foundry that manufactures integrated circuits for fabless semiconductor companies, integrated device manufacturers and system companies. The company provides process technologies and production services rather than selling branded end-user electronics.
Its offerings include analog and mixed-signal technologies, radio-frequency and high-voltage circuits, power management solutions, image sensors, and specialty memory products.
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