Hunter Perkins Capital Management LLC Raises Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Hunter Perkins Capital Management LLC lifted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,655 shares of the semiconductor company’s stock after purchasing an additional 820 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Tower Semiconductor were worth $1,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSEM. Essex Investment Management Co. LLC increased its position in Tower Semiconductor by 7.5% during the third 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 stake in Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after purchasing an additional 50,000 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its position in shares of Tower Semiconductor by 1,146.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after buying an additional 1,376,315 shares during the period. Barclays PLC grew its stake in shares of Tower Semiconductor by 4,081.2% during the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after buying an additional 23,385 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Tower Semiconductor in the third quarter worth approximately $11,094,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Stock Performance

TSEM stock opened at $54.74 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The company has a market capitalization of $6.07 billion, a P/E ratio of 29.59 and a beta of 0.89. The business has a 50-day moving average price of $50.53 and a 200 day moving average price of $45.19. Tower Semiconductor Ltd. has a 1-year low of $28.11 and a 1-year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. The company 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%. Tower Semiconductor’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. As a group, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. 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. Susquehanna upped their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, Benchmark reaffirmed a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

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.