Rockingstone Advisors LLC Purchases New Holdings in Tower Semiconductor Ltd. $TSEM

Rockingstone Advisors LLC purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, HoldingsChannel reports. The fund purchased 45,100 shares of the semiconductor company’s stock, valued at approximately $5,296,000. Tower Semiconductor comprises approximately 2.4% of Rockingstone Advisors LLC’s holdings, making the stock its 8th largest position.

Several other hedge funds have also made changes to their positions in TSEM. Amundi lifted its position in shares of Tower Semiconductor by 86.8% in the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Tower Semiconductor by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after acquiring an additional 3,954 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tower Semiconductor by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 662 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Tower Semiconductor in the 2nd quarter valued at approximately $438,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Tower Semiconductor in the 2nd quarter valued at approximately $5,809,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

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

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 company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. The company has a market cap of $23.18 billion, a price-to-earnings ratio of 106.79 and a beta of 0.71. The company has a 50 day moving average of $160.32 and a two-hundred day moving average of $126.20.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. On average, equities analysts anticipate that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal 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.