Dockside LLC Purchases Shares of 8,357 Tower Semiconductor Ltd. $TSEM

by · The Markets Daily

Dockside LLC acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 8,357 shares of the semiconductor company’s stock, valued at approximately $981,000.

Several other hedge funds also recently modified their holdings of TSEM. Amundi increased its position in shares of Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tower Semiconductor by 4.1% in 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 valued at $3,553,000 after acquiring an additional 3,954 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tower Semiconductor by 0.7% in the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 662 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Tower Semiconductor in the second quarter valued at about $438,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tower Semiconductor in the second quarter valued at about $5,809,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Shares of TSEM stock opened at $262.92 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The firm’s 50-day moving average is $233.92 and its 200-day moving average is $166.27. The stock has a market cap of $29.57 billion, a price-to-earnings ratio of 122.29 and a beta of 0.87. Tower Semiconductor Ltd. has a 52-week low of $37.48 and a 52-week high of $302.86.

Tower Semiconductor (NASDAQ:TSEM – Get Free Report) last issued its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company 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%. Tower Semiconductor’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Sell-side analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on TSEM shares. Wedbush lifted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Susquehanna lifted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Finally, Benchmark lifted their target price on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” 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 data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Hold” and an average target price of $276.75.

View Our Latest Report on TSEM

Tower Semiconductor Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding TSEM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report).