Geode Capital Management LLC Purchases 823 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Geode Capital Management LLC boosted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,847 shares of the semiconductor company’s stock after purchasing an additional 823 shares during the quarter. Geode Capital Management LLC’s holdings in Tower Semiconductor were worth $4,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSEM. TD Asset Management Inc increased its position in Tower Semiconductor by 3.2% during the second quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company’s stock worth $623,000 after acquiring an additional 506 shares during the period. Foundry Partners LLC bought a new position in Tower Semiconductor in the 2nd quarter valued at about $519,000. Acadian Asset Management LLC lifted its holdings in shares of Tower Semiconductor by 73.4% during the 2nd quarter. Acadian Asset Management LLC now owns 213,899 shares of the semiconductor company’s stock worth $8,394,000 after acquiring an additional 90,524 shares during the period. Y.D. More Investments Ltd boosted its position in shares of Tower Semiconductor by 9,622.0% during the 2nd quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company’s stock worth $35,952,000 after acquiring an additional 902,546 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Tower Semiconductor by 25.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 12,328 shares of the semiconductor company’s stock valued at $485,000 after purchasing an additional 2,538 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $52.10 on Monday. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.77 billion, a P/E ratio of 28.16 and a beta of 0.89. The company has a fifty day moving average of $48.08 and a 200-day moving average of $43.83. Tower Semiconductor Ltd. has a twelve month low of $28.02 and a twelve month high of $54.27.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Craig Hallum boosted their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Susquehanna lifted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

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.