Baron Wealth Management LLC Makes New $357,000 Investment in Tower Semiconductor Ltd. $TSEM

Baron Wealth Management LLC bought a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,035 shares of the semiconductor company’s stock, valued at approximately $357,000.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Tower Semiconductor by 3,222.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after buying an additional 4,541,235 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tower Semiconductor by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after buying an additional 53,112 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings 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 valued at $352,589,000 after acquiring an additional 25,000 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Tower Semiconductor by 214.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock valued at $259,083,000 after acquiring an additional 1,505,421 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Tower Semiconductor by 0.7% in the third quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after acquiring an additional 15,461 shares during the period. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSEM. Benchmark increased their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Susquehanna boosted their price target 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. Finally, Wedbush upped 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. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $286.74 on Friday. The firm has a market capitalization of $32.24 billion, a P/E ratio of 133.37 and a beta of 0.87. 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 50 day moving average price of $242.23 and a 200 day moving average price of $171.98. Tower Semiconductor Ltd. has a 52 week low of $38.90 and a 52 week high of $302.86.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share 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 company had revenue of $413.63 million for the quarter, compared to the consensus estimate of $410.72 million. During the same quarter in the previous year, the firm earned $0.35 EPS. Tower Semiconductor’s revenue was up 15.5% compared to the same quarter last year. Sell-side analysts expect 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.