Rockefeller Capital Management L.P. Grows Position in Tower Semiconductor Ltd. $TSEM

Rockefeller Capital Management L.P. raised its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 66.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,208 shares of the semiconductor company’s stock after purchasing an additional 2,887 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Tower Semiconductor were worth $846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSEM. Y.D. More Investments Ltd increased its holdings in shares of Tower Semiconductor by 4.6% in the fourth quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock valued at $118,084,000 after purchasing an additional 44,401 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after purchasing an additional 25,000 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 53,208 shares during the period. Rockingstone Advisors LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth about $5,296,000. Finally, GF Fund Management CO. LTD. boosted its position in Tower Semiconductor by 26,835.5% in the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock valued at $36,214,000 after buying an additional 307,267 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush increased their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Benchmark lifted their price objective 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. Finally, Susquehanna upped their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Price Performance

Shares of TSEM opened at $219.05 on Friday. Tower Semiconductor Ltd. has a 52 week low of $43.12 and a 52 week high of $319.94. 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 company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 101.88 and a beta of 0.87. The stock’s 50-day moving average price is $251.41 and its 200-day moving average price is $181.79.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results 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 return on equity of 8.54% and a net margin of 15.13%.The firm had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. During the same period last year, the company earned $0.35 earnings per share. Tower Semiconductor’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Tower Semiconductor 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.