Rockingstone Advisors LLC Takes Position in Tower Semiconductor Ltd. $TSEM

Rockingstone Advisors LLC acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 45,100 shares of the semiconductor company’s stock, valued at approximately $5,296,000. Tower Semiconductor makes up about 2.4% of Rockingstone Advisors LLC’s portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after acquiring an additional 25,000 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Tower Semiconductor by 2.6% in the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 131 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tower Semiconductor by 44.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,768 shares of the semiconductor company’s stock valued at $4,904,000 after acquiring an additional 12,870 shares in the last quarter. GF Fund Management CO. LTD. boosted its holdings in shares of Tower Semiconductor by 26,835.5% in the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock valued at $36,214,000 after acquiring an additional 307,267 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Tower Semiconductor by 575.3% in the fourth quarter. Farther Finance Advisors LLC now owns 655 shares of the semiconductor company’s stock valued at $77,000 after acquiring an additional 558 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Stock Down 4.9%

TSEM stock opened at $206.10 on Thursday. Tower Semiconductor Ltd. has a 12 month low of $34.73 and a 12 month high of $228.73. The firm has a market cap of $23.18 billion, a PE ratio of 106.79 and a beta of 0.71. The firm has a 50 day simple moving average of $160.32 and a 200 day simple moving average of $126.20. 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 (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. The business had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities research analysts forecast that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Benchmark increased their price objective on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Susquehanna reissued a “positive” rating and set a $180.00 target price on shares of Tower Semiconductor in a research note on Thursday, February 12th. Wedbush increased their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Barclays increased their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $173.00.

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.