Taylor Frigon Capital Management LLC Has $3.05 Million Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Taylor Frigon Capital Management LLC cut its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 30.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,013 shares of the semiconductor company’s stock after selling 30,602 shares during the quarter. Tower Semiconductor comprises about 1.5% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Taylor Frigon Capital Management LLC owned approximately 0.06% of Tower Semiconductor worth $3,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSEM. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the third quarter valued at about $38,000. Blue Trust Inc. boosted its holdings in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC grew its position in shares of Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Tower Semiconductor during the second quarter worth approximately $177,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Tower Semiconductor in the first quarter valued at approximately $164,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSEM. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research report on Monday, September 9th. StockNews.com lowered Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $51.33.

Tower Semiconductor Stock Performance

NASDAQ TSEM remained flat at $44.05 on Thursday. The company’s stock had a trading volume of 39,878 shares, compared to its average volume of 503,379. The business has a 50 day moving average price of $42.85 and a 200-day moving average price of $39.26. The company has a market cap of $4.88 billion, a PE ratio of 9.99 and a beta of 0.90. Tower Semiconductor Ltd. has a 12-month low of $22.30 and a 12-month high of $46.53. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05.

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