Fosun International Ltd Acquires New Position in Tower Semiconductor Ltd. $TSEM

Fosun International Ltd acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,000 shares of the semiconductor company’s stock, valued at approximately $587,000.

Several other large investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of Tower Semiconductor by 214.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock valued at $259,083,000 after buying an additional 1,505,421 shares during the period. WT Asset Management Ltd purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $78,967,000. Park West Asset Management LLC purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $42,657,000. Balyasny Asset Management L.P. grew its stake in shares of Tower Semiconductor by 565.6% in the 3rd quarter. Balyasny Asset Management L.P. now owns 444,800 shares of the semiconductor company’s stock valued at $32,159,000 after buying an additional 377,975 shares during the period. Finally, Norges Bank purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $43,224,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $261.31 on Friday. The firm’s 50 day moving average price is $225.84 and its 200-day moving average price is $160.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. Tower Semiconductor Ltd. has a one year low of $37.48 and a one year high of $302.86. The firm has a market cap of $29.38 billion, a P/E ratio of 121.54 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The firm had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. During the same period in the prior year, the business posted $0.35 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on TSEM shares. Barclays increased their price target on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Benchmark increased their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Susquehanna increased their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Finally, Wedbush increased their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Company Profile

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.