King Luther Capital Management Corp Acquires 695 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

King Luther Capital Management Corp boosted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,107 shares of the semiconductor company’s stock after purchasing an additional 695 shares during the quarter. King Luther Capital Management Corp owned about 0.20% of Tower Semiconductor worth $9,963,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in TSEM. Essex Investment Management Co. LLC boosted its position in shares of Tower Semiconductor by 7.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock valued at $7,948,000 after acquiring an additional 12,551 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Tower Semiconductor by 1.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Tower Semiconductor in the 3rd quarter worth $11,094,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Tower Semiconductor in the 3rd quarter worth about $573,000. Finally, Foundry Partners LLC purchased a new stake in shares of Tower Semiconductor during the 2nd quarter valued at about $519,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Up 2.5 %

Shares of TSEM opened at $47.81 on Friday. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $44.01 and a 200 day moving average price of $40.96. Tower Semiconductor Ltd. has a 12-month low of $27.11 and a 12-month high of $50.25. The firm has a market capitalization of $5.30 billion, a P/E ratio of 25.84 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. During the same period in the prior year, the business posted $0.47 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Craig Hallum raised their price target on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a report on Thursday, November 14th. Susquehanna upped their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $58.33.

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.