Epoch Investment Partners Inc. acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,463,710 shares of the semiconductor company’s stock, valued at approximately $31,850,000. Epoch Investment Partners Inc. owned 1.49% of Tower Semiconductor at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of TSEM. Envestnet Asset Management Inc. increased its stake in Tower Semiconductor by 132,392.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 483,598 shares of the semiconductor company’s stock worth $10,644,000 after acquiring an additional 483,233 shares during the period. FMR LLC increased its stake in Tower Semiconductor by 197.1% during the 3rd quarter. FMR LLC now owns 529,400 shares of the semiconductor company’s stock worth $11,520,000 after acquiring an additional 351,200 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Tower Semiconductor by 23.4% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,389,886 shares of the semiconductor company’s stock valued at $30,244,000 after purchasing an additional 263,833 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management boosted its holdings in shares of Tower Semiconductor by 40.6% in the 3rd quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 692,211 shares of the semiconductor company’s stock valued at $15,063,000 after purchasing an additional 200,000 shares in the last quarter. Finally, Waters Parkerson & CO. LLC boosted its holdings in shares of Tower Semiconductor by 35.0% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 695,100 shares of the semiconductor company’s stock valued at $15,299,000 after purchasing an additional 180,365 shares in the last quarter. Hedge funds and other institutional investors own 47.47% of the company’s stock.
NASDAQ TSEM opened at $15.74 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 3.93. Tower Semiconductor Ltd. has a twelve month low of $13.78 and a twelve month high of $36.08. The firm has a market cap of $1.57 billion, a P/E ratio of 7.12, a PEG ratio of 1.10 and a beta of 1.52.
Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Monday, October 29th. The semiconductor company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Tower Semiconductor had a net margin of 18.43% and a return on equity of 15.82%. The firm had revenue of $322.60 million for the quarter, compared to analyst estimates of $335.05 million. During the same period last year, the business earned $0.59 EPS. The company’s revenue was down 9.0% compared to the same quarter last year. On average, analysts forecast that Tower Semiconductor Ltd. will post 1.45 earnings per share for the current fiscal year.
A number of brokerages have weighed in on TSEM. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Standpoint Research raised Tower Semiconductor from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, August 28th. Craig Hallum set a $29.00 target price on Tower Semiconductor and gave the company a “buy” rating in a report on Thursday, August 23rd. Jefferies Financial Group began coverage on Tower Semiconductor in a report on Tuesday, October 9th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Tower Semiconductor in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Tower Semiconductor presently has an average rating of “Buy” and a consensus target price of $26.50.
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Tower Semiconductor Profile
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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