Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Acquired by Hodges Capital Management Inc.

Hodges Capital Management Inc. lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 21.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,700 shares of the semiconductor company’s stock after buying an additional 24,800 shares during the period. Hodges Capital Management Inc.’s holdings in Tower Semiconductor were worth $4,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in TSEM. Hsbc Holdings PLC increased its holdings in Tower Semiconductor by 108.2% in the 3rd quarter. Hsbc Holdings PLC now owns 54,978 shares of the semiconductor company’s stock valued at $1,346,000 after purchasing an additional 28,568 shares during the last quarter. Trexquant Investment LP increased its holdings in Tower Semiconductor by 289.5% in the 3rd quarter. Trexquant Investment LP now owns 139,629 shares of the semiconductor company’s stock valued at $3,429,000 after purchasing an additional 103,777 shares during the last quarter. Stansberry Asset Management LLC acquired a new stake in Tower Semiconductor in the 3rd quarter valued at approximately $10,891,000. Seven Eight Capital LP acquired a new stake in Tower Semiconductor in the 3rd quarter valued at approximately $317,000. Finally, GSA Capital Partners LLP acquired a new stake in Tower Semiconductor in the 3rd quarter valued at approximately $1,630,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

TSEM has been the subject of several research reports. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Craig Hallum boosted their price target on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. TheStreet upgraded shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Susquehanna upgraded shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $36.00 to $55.00 in a research note on Friday, May 10th. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of Tower Semiconductor in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $46.33.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $39.31 on Friday. The stock has a market cap of $4.30 billion, a P/E ratio of 8.91 and a beta of 0.90. The company has a fifty day simple moving average of $36.54 and a 200-day simple moving average of $33.10. Tower Semiconductor Ltd. has a 12-month low of $21.43 and a 12-month high of $40.60. The company has a current ratio of 5.38, a quick ratio of 4.46 and a debt-to-equity ratio of 0.06.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.08. The business had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $325.00 million. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. Equities analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.