Lester Murray Antman dba SimplyRich Purchases New Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Lester Murray Antman dba SimplyRich acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,889 shares of the semiconductor company’s stock, valued at approximately $663,000.

Other large investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in shares of Tower Semiconductor in the third quarter valued at $27,000. R Squared Ltd purchased a new position in shares of Tower Semiconductor in the 4th quarter worth $61,000. Blue Trust Inc. increased its holdings in shares of Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after buying an additional 1,376 shares during the last quarter. Signaturefd LLC raised its position in shares of Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares in the last quarter. Finally, Crews Bank & Trust bought a new position in shares of Tower Semiconductor in the 4th quarter valued at about $134,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday. Benchmark restated a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday. Susquehanna raised their price target on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Craig Hallum raised their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $45.78 on Wednesday. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $50.74 and its 200-day moving average price is $45.75. The firm has a market cap of $5.07 billion, a P/E ratio of 24.75 and a beta of 0.88. Tower Semiconductor Ltd. has a 12 month low of $28.37 and a 12 month high of $55.31.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts expect that Tower Semiconductor Ltd. will post 1.81 earnings per share for the current fiscal year.

Tower Semiconductor Company Profile

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