486,865 Shares in Tower Semiconductor Ltd. $TSEM Bought by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 486,865 shares of the semiconductor company’s stock, valued at approximately $85,435,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in Tower Semiconductor during the 4th quarter worth about $27,000. CIBC Private Wealth Group LLC grew its holdings in shares of Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor in the 4th quarter valued at about $52,000. SBI Securities Co. Ltd. increased its position in shares of Tower Semiconductor by 344.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 403 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in Tower Semiconductor during the fourth quarter worth about $68,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $286.74 on Monday. The firm has a 50-day moving average of $242.23 and a 200-day moving average of $172.40. Tower Semiconductor Ltd. has a one year low of $38.90 and a one year high of $302.86. The company has a market cap of $32.24 billion, a PE ratio of 133.37 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The company had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. During the same period in the prior year, the firm earned $0.35 EPS. Tower Semiconductor’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts forecast that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several recent research reports. Wedbush increased their price target on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Susquehanna boosted their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Finally, Benchmark upped their price objective on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $276.75.

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.