Oliver Luxxe Assets LLC Acquires 18,586 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Oliver Luxxe Assets LLC raised its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 79.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,056 shares of the semiconductor company’s stock after purchasing an additional 18,586 shares during the period. Oliver Luxxe Assets LLC’s holdings in Tower Semiconductor were worth $1,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. USA Financial Formulas purchased a new position in Tower Semiconductor during the 3rd quarter worth $38,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Tower Semiconductor in the 2nd quarter worth about $177,000. State Board of Administration of Florida Retirement System acquired a new position in Tower Semiconductor in the 1st quarter worth about $164,000. Scientech Research LLC purchased a new stake in shares of Tower Semiconductor during the second quarter worth approximately $200,000. Finally, ProShare Advisors LLC acquired a new stake in Tower Semiconductor during the 1st quarter worth $243,000. 70.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TSEM shares. StockNews.com lowered Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, July 19th. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $51.33.

Tower Semiconductor Trading Up 0.6 %

NASDAQ:TSEM opened at $45.82 on Monday. The stock has a fifty day moving average price of $41.76 and a two-hundred day moving average price of $38.65. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 10.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. Tower Semiconductor Ltd. has a 1 year low of $21.43 and a 1 year high of $46.27.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $351.18 million for the quarter, compared to analyst estimates of $350.00 million. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current fiscal year.

Tower Semiconductor 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.