Capital International Investors Makes New Investment in Tower Semiconductor Ltd. $TSEM

Capital International Investors purchased a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,895,161 shares of the semiconductor company’s stock, valued at approximately $222,530,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Tower Semiconductor by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock worth $507,317,000 after buying an additional 53,112 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after buying an additional 25,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tower Semiconductor by 214.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after buying an additional 1,505,421 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Tower Semiconductor by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after buying an additional 15,461 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Tower Semiconductor by 12.5% during the 3rd quarter. Invesco Ltd. now owns 1,596,815 shares of the semiconductor company’s stock worth $115,450,000 after buying an additional 176,998 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $242.04 on Tuesday. The firm’s fifty day moving average price is $228.12 and its 200 day moving average price is $162.02. Tower Semiconductor Ltd. has a 1-year low of $37.48 and a 1-year high of $302.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The firm has a market cap of $27.22 billion, a price-to-earnings ratio of 112.58 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The company had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same quarter last year, the company earned $0.35 earnings per share. Tower Semiconductor’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts expect that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TSEM shares. Benchmark lifted their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Barclays lifted their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Wedbush lifted their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Susquehanna lifted their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Tower Semiconductor presently has an average rating of “Hold” and an average price target of $276.75.

About Tower Semiconductor

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.