WINTON GROUP Ltd Makes New $9.59 Million Investment in Tower Semiconductor Ltd. $TSEM

WINTON GROUP Ltd purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the second quarter, Holdings Channel reports. The fund purchased 36,800 shares of the semiconductor company’s stock, valued at approximately $9,592,000.

A number of other hedge funds have also made changes to their positions in the stock. Engineers Gate Manager LP boosted its stake in Tower Semiconductor by 1,039.1% during the 2nd quarter. Engineers Gate Manager LP now owns 23,921 shares of the semiconductor company’s stock valued at $6,235,000 after purchasing an additional 21,821 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of Tower Semiconductor by 8.1% in the second quarter. Integrated Wealth Concepts LLC now owns 1,428 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 107 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Tower Semiconductor by 230.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 334 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 233 shares during the period. Nwam LLC acquired a new stake in Tower Semiconductor in the 2nd quarter worth $212,000. Finally, Teza Capital Management LLC bought a new position in Tower Semiconductor during the second quarter valued at about $375,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several recent research reports. UBS Group reissued a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Barclays upgraded shares of Tower Semiconductor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Wedbush upped their price target on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. National Bank Financial raised shares of Tower Semiconductor to a “buy” rating in a research note on Friday, August 7th. Finally, Benchmark restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.67.

Tower Semiconductor Stock Down 1.5%

TSEM stock opened at $216.57 on Thursday. Tower Semiconductor Ltd. has a fifty-two week low of $64.59 and a fifty-two week high of $319.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.91 and a quick ratio of 4.31. The business has a 50-day moving average of $228.03 and a 200-day moving average of $216.74. The stock has a market capitalization of $24.35 billion, a P/E ratio of 85.60 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The company had revenue of $460.08 million during the quarter, compared to analysts’ expectations of $454.68 million. Tower Semiconductor had a net margin of 16.94% and a return on equity of 9.83%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. On average, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 3.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tower Semiconductor news, CEO Russell Ellwanger sold 104,226 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $248.34, for a total value of $25,883,484.84. Following the completion of the transaction, the chief executive officer directly owned 526,788 shares in the company, valued at $130,822,531.92. This trade represents a 16.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by corporate insiders.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd. (NASDAQ:TSEM) is a specialty semiconductor foundry that manufactures integrated circuits for fabless chip companies, integrated device manufacturers and original equipment manufacturers. The company focuses on analog and mixed-signal technologies rather than high-volume digital logic, providing process development, wafer manufacturing, design enablement and other foundry services.

Its technology portfolio includes radio-frequency and high-performance analog circuits, power management, CMOS image sensors, medical and industrial sensors, silicon photonics, microelectromechanical systems (MEMS), and automotive and industrial semiconductor solutions.