Brookstone Capital Management Purchases New Position in Tower Semiconductor Ltd. $TSEM

Brookstone Capital Management acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 2,002 shares of the semiconductor company’s stock, valued at approximately $351,000.

Other institutional investors have also recently bought and sold shares of the company. Y.D. More Investments Ltd grew its holdings in shares of Tower Semiconductor by 4.6% in the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock valued at $118,084,000 after buying an additional 44,401 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in 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 period. Argent Trust Co acquired a new stake in Tower Semiconductor during the 3rd quarter worth $287,000. Granahan Investment Management LLC lifted its holdings in Tower Semiconductor by 42.6% during the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company’s stock worth $12,883,000 after acquiring an additional 53,208 shares in the last quarter. Finally, Rockingstone Advisors LLC bought a new position in Tower Semiconductor during the fourth quarter worth about $5,296,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TSEM shares. Benchmark boosted their price objective on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Finally, Wedbush lifted 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 equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $249.91 on Monday. The company’s fifty day simple moving average is $249.18 and its 200-day simple moving average is $178.14. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The firm has a market cap of $28.10 billion, a PE ratio of 116.24 and a beta of 0.87. Tower Semiconductor Ltd. has a 12 month low of $42.08 and a 12 month high of $319.94.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The firm had revenue of $413.63 million during the quarter, compared to analysts’ expectations of $410.72 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts expect 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.