DSM Capital Partners LLC Takes Position in Tower Semiconductor Ltd. $TSEM

DSM Capital Partners LLC acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,068 shares of the semiconductor company’s stock, valued at approximately $3,346,000.

Several other institutional investors have also bought and sold shares of the stock. Frank Rimerman Advisors LLC bought a new stake in shares of Tower Semiconductor during the 1st quarter worth about $425,000. Swedbank AB bought a new position in shares of Tower Semiconductor in the first quarter valued at approximately $14,126,000. Hodges Capital Management Inc. increased its stake in shares of Tower Semiconductor by 1.2% during the first quarter. Hodges Capital Management Inc. now owns 65,544 shares of the semiconductor company’s stock valued at $11,502,000 after acquiring an additional 750 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Tower Semiconductor during the first quarter valued at approximately $218,000. Finally, Private Advisor Group LLC bought a new stake in Tower Semiconductor during the first quarter worth approximately $3,570,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TSEM shares. Benchmark increased their price target on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Susquehanna boosted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Finally, Wedbush boosted their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Up 2.3%

NASDAQ TSEM opened at $216.70 on Thursday. 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 company’s 50 day simple moving average is $252.27 and its 200 day simple moving average is $184.38. Tower Semiconductor Ltd. has a 12 month low of $43.12 and a 12 month high of $319.94. The company has a market capitalization of $24.37 billion, a P/E ratio of 100.79 and a beta of 0.87.

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.