Migdal Insurance & Financial Holdings Ltd. Buys 25,000 Shares of Tower Semiconductor Ltd. $TSEM

Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,002,806 shares of the semiconductor company’s stock after buying an additional 25,000 shares during the period. Tower Semiconductor makes up about 3.0% of Migdal Insurance & Financial Holdings Ltd.’s investment portfolio, making the stock its 12th largest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in Tower Semiconductor were worth $352,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Tower Semiconductor during the 4th quarter valued at approximately $27,000. CIBC Private Wealth Group LLC increased its position in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 300 shares in the last quarter. Westside Investment Management Inc. increased its position in Tower Semiconductor by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 226 shares in the last quarter. Advisory Services Network LLC bought a new position in Tower Semiconductor during the 3rd quarter valued at approximately $48,000. Finally, Covestor Ltd bought a new position in Tower Semiconductor during the 3rd quarter valued at approximately $52,000. Institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

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

Tower Semiconductor Stock Performance

Shares of TSEM opened at $216.72 on Wednesday. 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 Ltd. has a one year low of $34.73 and a one year high of $228.73. The firm has a market capitalization of $24.37 billion, a P/E ratio of 112.29 and a beta of 0.71. The business has a fifty day moving average of $158.89 and a 200 day moving average of $125.63.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.11. The company had revenue of $440.21 million for the quarter, compared to the consensus estimate of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.Tower Semiconductor’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 2.64 EPS for the current 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.