Swiss National Bank boosted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Rating) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 243,895 shares of the semiconductor company's stock after acquiring an additional 17,245 shares during the quarter. Swiss National Bank owned 0.23% of Tower Semiconductor worth $11,844,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in TSEM. State of New Jersey Common Pension Fund D purchased a new stake in Tower Semiconductor during the fourth quarter valued at about $504,000. Advisor Group Holdings Inc. boosted its position in Tower Semiconductor by 33.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,003 shares of the semiconductor company's stock valued at $80,000 after buying an additional 503 shares during the period. Envestnet Asset Management Inc. boosted its position in Tower Semiconductor by 20.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,540 shares of the semiconductor company's stock valued at $419,000 after buying an additional 1,820 shares during the period. Hodges Capital Management Inc. boosted its position in Tower Semiconductor by 27.4% during the fourth quarter. Hodges Capital Management Inc. now owns 337,692 shares of the semiconductor company's stock valued at $13,399,000 after buying an additional 72,551 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Tower Semiconductor by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,392 shares of the semiconductor company's stock valued at $809,000 after buying an additional 315 shares during the period.
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Tower Semiconductor Stock Performance
Tower Semiconductor stock opened at $47.32 on Thursday. The company has a current ratio of 3.81, a quick ratio of 3.09 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $46.68 and a 200-day moving average of $46.37. The firm has a market cap of $5.05 billion, a P/E ratio of 25.59 and a beta of 1.03. Tower Semiconductor Ltd. has a 1-year low of $26.59 and a 1-year high of $49.13.
Tower Semiconductor (NASDAQ:TSEM – Get Rating) last posted its earnings results on Monday, May 16th. The semiconductor company reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.02. The company had revenue of $421.13 million during the quarter, compared to analyst estimates of $412.45 million. Tower Semiconductor had a net
margin of 12.33% and a return on equity of 12.57%. Sell-side analysts expect that Tower Semiconductor Ltd. will post 2.14 EPS for the current year.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Tower Semiconductor from a "hold" rating to a "buy" rating in a research report on Friday, May 27th.
About Tower Semiconductor
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Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, other Asia countries, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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