Kestra Private Wealth Services LLC Buys New Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Kestra Private Wealth Services LLC bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 13,482 shares of the semiconductor company’s stock, valued at approximately $411,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Tower Semiconductor by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 3,669,868 shares of the semiconductor company’s stock valued at $90,132,000 after buying an additional 74,264 shares in the last quarter. Phoenix Holdings Ltd. lifted its stake in Tower Semiconductor by 7.0% in the 3rd quarter. Phoenix Holdings Ltd. now owns 3,668,022 shares of the semiconductor company’s stock valued at $90,089,000 after buying an additional 239,518 shares in the last quarter. Baupost Group LLC MA purchased a new stake in Tower Semiconductor in the 3rd quarter valued at approximately $69,996,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Tower Semiconductor by 9.2% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,823,631 shares of the semiconductor company’s stock valued at $86,177,000 after buying an additional 237,344 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Tower Semiconductor by 40.2% in the 4th quarter. Jennison Associates LLC now owns 2,069,673 shares of the semiconductor company’s stock valued at $63,166,000 after acquiring an additional 593,003 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Tower Semiconductor Trading Up 2.5 %

TSEM stock opened at $34.67 on Wednesday. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 7.46 and a beta of 0.93. The company has a quick ratio of 5.15, a current ratio of 6.17 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $32.59 and a 200-day simple moving average of $30.01. Tower Semiconductor Ltd. has a 52 week low of $21.43 and a 52 week high of $43.31.

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

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.