Scientech Research LLC Buys Shares of 5,089 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Scientech Research LLC bought a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,089 shares of the semiconductor company’s stock, valued at approximately $200,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Tower Semiconductor by 1.7% during the first quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock valued at $126,808,000 after acquiring an additional 64,679 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Tower Semiconductor by 3.4% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,763,097 shares of the semiconductor company’s stock valued at $147,927,000 after purchasing an additional 123,200 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Tower Semiconductor by 28.1% in the first quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company’s stock valued at $88,652,000 after purchasing an additional 580,610 shares during the last quarter. Meitav Investment House Ltd. increased its holdings in shares of Tower Semiconductor by 25.6% in the second quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock valued at $95,686,000 after purchasing an additional 495,380 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Tower Semiconductor by 1.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,958,981 shares of the semiconductor company’s stock valued at $77,008,000 after purchasing an additional 20,347 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a report on Monday, September 9th. StockNews.com cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, July 19th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tower Semiconductor presently has an average rating of “Buy” and a consensus target price of $51.33.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $43.08 on Wednesday. Tower Semiconductor Ltd. has a fifty-two week low of $21.43 and a fifty-two week high of $44.59. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $41.11 and a 200 day moving average of $37.90.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. The business had revenue of $351.18 million during the quarter, compared to analyst estimates of $350.00 million. As a group, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current fiscal year.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.