Fifth Third Bancorp Has $431,000 Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Fifth Third Bancorp grew its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 26.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,376 shares of the semiconductor company’s stock after buying an additional 1,773 shares during the period. Fifth Third Bancorp’s holdings in Tower Semiconductor were worth $431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSEM. Senvest Management LLC increased its position in Tower Semiconductor by 1.7% in the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock worth $368,262,000 after purchasing an additional 138,807 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Tower Semiconductor by 203.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock worth $137,444,000 after buying an additional 2,083,262 shares during the period. Jennison Associates LLC grew its position in shares of Tower Semiconductor by 1.5% during the 3rd quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock worth $123,529,000 after buying an additional 40,038 shares during the period. Finally, Meitav Investment House Ltd. raised its stake in shares of Tower Semiconductor by 5.1% during the third quarter. Meitav Investment House Ltd. now owns 2,555,530 shares of the semiconductor company’s stock worth $113,220,000 after buying an additional 123,713 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $48.68 on Friday. The stock’s fifty day simple moving average is $50.52 and its 200 day simple moving average is $45.29. 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 company has a market capitalization of $5.39 billion, a PE ratio of 26.31 and a beta of 0.89. Tower Semiconductor Ltd. has a 12 month low of $28.11 and a 12 month high of $55.31.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same quarter last year, the firm posted $0.47 earnings per share. Tower Semiconductor’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts predict that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Analyst Ratings Changes

TSEM has been the subject of a number of analyst reports. Craig Hallum lifted 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. Susquehanna upped their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.