4,432 Shares in Tower Semiconductor Ltd. $TSEM Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,432 shares of the semiconductor company’s stock, valued at approximately $520,000.

A number of other institutional investors also recently bought and sold shares of the stock. Mackenzie Financial Corp raised its holdings in Tower Semiconductor by 2.6% during the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after acquiring an additional 127 shares during the period. Evergreen Capital Management LLC raised its holdings in Tower Semiconductor by 2.6% during 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 during the period. Mariner LLC raised its holdings in Tower Semiconductor by 2.4% during the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 207 shares during the period. Westside Investment Management Inc. raised its holdings in Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 226 shares during the period. Finally, USA Financial Formulas bought a new stake in Tower Semiconductor during the fourth quarter valued at about $27,000. 70.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on TSEM shares. Barclays raised their price target on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Susquehanna reissued a “positive” rating and set a $180.00 price target on shares of Tower Semiconductor in a report on Thursday, February 12th. Benchmark raised their price target on Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Finally, Wedbush raised their price target on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Hold” and an average target price of $173.00.

Tower Semiconductor Price Performance

NASDAQ:TSEM opened at $210.00 on Friday. The stock has a market cap of $23.61 billion, a PE ratio of 108.81 and a beta of 0.85. The business’s 50-day simple moving average is $174.64 and its two-hundred day simple moving average is $135.08. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 52 week low of $36.42 and a 52 week high of $232.67.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. As a group, analysts forecast that Tower Semiconductor Ltd. will post 2.64 EPS for the current fiscal year.

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.