Cramer Rosenthal Mcglynn LLC Purchases New Stake in Tower Semiconductor Ltd. $TSEM

Cramer Rosenthal Mcglynn LLC acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,261 shares of the semiconductor company’s stock, valued at approximately $308,000.

Several other hedge funds have also recently bought and sold shares of the company. Amundi increased its stake in Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Tower Semiconductor by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 3,954 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Tower Semiconductor by 40.6% in the 2nd quarter. Penserra Capital Management LLC now owns 468,481 shares of the semiconductor company’s stock valued at $20,308,000 after purchasing an additional 135,250 shares during the last quarter. CSM Advisors LLC acquired a new position in shares of Tower Semiconductor during the 2nd quarter worth $544,000. Finally, King Luther Capital Management Corp lifted its position in shares of Tower Semiconductor by 5.0% during the 2nd quarter. King Luther Capital Management Corp now owns 254,781 shares of the semiconductor company’s stock worth $11,045,000 after buying an additional 12,217 shares during the last quarter. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $120.54 on Friday. The stock has a market capitalization of $13.55 billion, a PE ratio of 62.46 and a beta of 0.91. The business’s 50 day simple moving average is $127.64 and its 200 day simple moving average is $99.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $149.57.

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

Wall Street Analysts Forecast Growth

TSEM has been the topic of a number of recent analyst reports. Wedbush lifted their target price on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Susquehanna reaffirmed a “positive” rating and set a $180.00 price target on shares of Tower Semiconductor in a report on Thursday, February 12th. Barclays upped their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Benchmark raised their target price on shares of Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Two equities research 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, the company has an average rating of “Hold” and an average target price of $156.75.

Tower Semiconductor 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.