Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,674 shares of the semiconductor company’s stock after buying an additional 2,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tower Semiconductor were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSEM. Byrne Asset Management LLC purchased a new position in shares of Tower Semiconductor in the 3rd quarter valued at approximately $27,000. CVA Family Office LLC acquired a new position in shares of Tower Semiconductor in the 4th quarter valued at $47,000. EverSource Wealth Advisors LLC increased its holdings in Tower Semiconductor by 336.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $52,000 after buying an additional 1,635 shares during the period. Ulland Investment Advisors LLC acquired a new stake in Tower Semiconductor during the 3rd quarter worth about $56,000. Finally, Seven Eight Capital LP purchased a new position in Tower Semiconductor during the third quarter valued at approximately $317,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Up 0.6 %

Shares of NASDAQ:TSEM opened at $32.36 on Monday. The business has a 50-day moving average price of $32.64 and a 200 day moving average price of $29.47. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of 6.96 and a beta of 0.94. Tower Semiconductor Ltd. has a 12-month low of $21.43 and a 12-month high of $45.87. The company has a current ratio of 6.17, a quick ratio of 5.15 and a debt-to-equity ratio of 0.07.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $351.71 million during the quarter, compared to analysts’ expectations of $350.00 million. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. Sell-side analysts expect that Tower Semiconductor Ltd. will post 1.52 EPS for the current year.

Analysts Set New Price Targets

TSEM has been the topic of a number of recent analyst reports. StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Susquehanna initiated coverage on Tower Semiconductor in a research note on Thursday, February 29th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, TheStreet raised Tower Semiconductor from a “c+” rating to a “b-” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.33.

Tower Semiconductor Company Profile

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.