King Luther Capital Management Corp Grows Stock Position in Tower Semiconductor Ltd. $TSEM

King Luther Capital Management Corp lifted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 13.2% during the third quarter, Holdings Channel.com reports. The fund owned 288,351 shares of the semiconductor company’s stock after acquiring an additional 33,570 shares during the period. King Luther Capital Management Corp’s holdings in Tower Semiconductor were worth $20,848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi grew its position in Tower Semiconductor by 86.8% during the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock worth $771,000 after purchasing an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Tower Semiconductor by 4.1% during 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 worth $3,553,000 after buying an additional 3,954 shares during the period. ARK Investment Management LLC grew its holdings in shares of Tower Semiconductor by 24.7% during the second quarter. ARK Investment Management LLC now owns 46,339 shares of the semiconductor company’s stock valued at $2,009,000 after buying an additional 9,180 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Tower Semiconductor by 53.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 44,737 shares of the semiconductor company’s stock valued at $1,939,000 after acquiring an additional 15,507 shares during the period. Finally, Penserra Capital Management LLC raised its stake in Tower Semiconductor by 40.6% in the 2nd quarter. Penserra Capital Management LLC now owns 468,481 shares of the semiconductor company’s stock worth $20,308,000 after acquiring an additional 135,250 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Down 1.9%

TSEM stock opened at $125.86 on Friday. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $149.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The firm’s fifty day moving average is $126.04 and its 200 day moving average is $93.86.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business had revenue of $440.21 million for the quarter, compared to analyst estimates of $439.81 million. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSEM has been the topic of several research analyst reports. Barclays boosted their price target on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Benchmark upped their target price on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Susquehanna reissued a “positive” rating and set a $180.00 price target on shares of Tower Semiconductor in a research report on Thursday, February 12th. Wedbush lifted their price objective on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tower Semiconductor currently has a consensus rating of “Hold” and an average price target of $156.75.

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.