Dockside LLC Makes New Investment in Tower Semiconductor Ltd. $TSEM

Dockside LLC purchased a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,357 shares of the semiconductor company’s stock, valued at approximately $981,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSEM. Amundi boosted its position in shares of Tower Semiconductor by 86.8% during the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock worth $771,000 after purchasing an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tower Semiconductor by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock worth $3,553,000 after purchasing an additional 3,954 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Tower Semiconductor by 0.7% during the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock worth $4,135,000 after purchasing an additional 662 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Tower Semiconductor during the second quarter worth $438,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Tower Semiconductor during the second quarter worth $5,809,000. 70.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Susquehanna lifted their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Wedbush lifted their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Benchmark lifted their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Stock Performance

TSEM opened at $262.92 on Monday. The stock has a market capitalization of $29.57 billion, a P/E ratio of 122.29 and a beta of 0.87. Tower Semiconductor Ltd. has a 12 month low of $37.48 and a 12 month high of $302.86. The firm’s fifty day simple moving average is $233.92 and its 200 day simple moving average is $166.27. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04.

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

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.