SG Americas Securities LLC Takes $85.44 Million Position in Tower Semiconductor Ltd. $TSEM

SG Americas Securities LLC purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 486,865 shares of the semiconductor company’s stock, valued at approximately $85,435,000. SG Americas Securities LLC owned about 0.43% of Tower Semiconductor as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. USA Financial Formulas acquired a new position in Tower Semiconductor in the fourth quarter valued at about $27,000. CIBC Private Wealth Group LLC grew its position in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after buying an additional 300 shares during the period. Advisory Services Network LLC acquired a new position in shares of Tower Semiconductor during the 3rd quarter worth about $48,000. Kestra Advisory Services LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $52,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 403 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSEM. Susquehanna lifted their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Wedbush upped their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Benchmark increased 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. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Tower Semiconductor has an average rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Performance

TSEM opened at $286.74 on Monday. The company has a market capitalization of $32.24 billion, a price-to-earnings ratio of 133.37 and a beta of 0.87. The business’s 50-day moving average price is $242.23 and its two-hundred day moving average price is $172.40. Tower Semiconductor Ltd. has a 1 year low of $38.90 and a 1 year high of $302.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

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

About Tower Semiconductor

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.