Hodges Capital Management Inc. Has $7.61 Million Stock Position in Tower Semiconductor Ltd. $TSEM

Hodges Capital Management Inc. trimmed its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 48.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 64,794 shares of the semiconductor company’s stock after selling 61,438 shares during the period. Hodges Capital Management Inc.’s holdings in Tower Semiconductor were worth $7,608,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSEM. Amundi boosted its holdings in shares of Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock worth $771,000 after buying an additional 10,042 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Tower Semiconductor by 4.1% in 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. Geode Capital Management LLC boosted its holdings in shares of Tower Semiconductor by 0.7% in the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock worth $4,135,000 after buying an additional 662 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Tower Semiconductor in the second quarter worth about $438,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Tower Semiconductor in the second quarter worth about $5,809,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $233.54 on Thursday. The company has a 50 day simple moving average of $230.74 and a 200-day simple moving average of $163.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The firm has a market capitalization of $26.26 billion, a price-to-earnings ratio of 108.62 and a beta of 0.87. Tower Semiconductor Ltd. has a 52-week low of $37.48 and a 52-week high of $302.86.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $413.63 million during the quarter, compared to analyst estimates of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. Equities research analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays raised their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Benchmark raised their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Wedbush raised their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Susquehanna increased their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $276.75.

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.