Dakota Wealth Management Takes $920,000 Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Dakota Wealth Management bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,866 shares of the semiconductor company’s stock, valued at approximately $920,000.

Several other large investors have also recently bought and sold shares of the stock. Sei Investments Co. acquired a new position in shares of Tower Semiconductor during the second quarter valued at about $1,148,000. ProShare Advisors LLC raised its holdings in Tower Semiconductor by 30.3% in the 2nd quarter. ProShare Advisors LLC now owns 9,459 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 2,202 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Tower Semiconductor by 254.6% in the 2nd quarter. Maverick Capital Ltd. now owns 38,977 shares of the semiconductor company’s stock valued at $1,532,000 after acquiring an additional 27,986 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Tower Semiconductor by 14.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,298,833 shares of the semiconductor company’s stock worth $51,057,000 after acquiring an additional 168,827 shares during the period. Finally, Scientech Research LLC acquired a new stake in shares of Tower Semiconductor during the 2nd quarter worth approximately $200,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday, November 14th. Susquehanna raised their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Craig Hallum raised their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Stock Up 1.1 %

Shares of NASDAQ:TSEM opened at $54.74 on Friday. The company’s fifty day moving average is $50.33 and its 200-day moving average is $45.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. Tower Semiconductor Ltd. has a 52 week low of $28.11 and a 52 week high of $55.31. The company has a market capitalization of $6.07 billion, a PE ratio of 29.59 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. Equities research analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

About Tower Semiconductor

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.