Senvest Management LLC Raises Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Senvest Management LLC boosted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,320,433 shares of the semiconductor company’s stock after acquiring an additional 138,807 shares during the quarter. Tower Semiconductor comprises 12.8% of Senvest Management LLC’s holdings, making the stock its biggest position. Senvest Management LLC owned 0.08% of Tower Semiconductor worth $368,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TSEM. Transcendent Capital Group LLC acquired a new stake in shares of Tower Semiconductor in the 3rd quarter worth approximately $27,000. USA Financial Formulas bought a new stake in Tower Semiconductor during the third quarter worth approximately $38,000. Blue Trust Inc. lifted its position in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC boosted its stake in Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Tower Semiconductor during the 2nd quarter valued at $177,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 0.0 %

Shares of NASDAQ TSEM opened at $47.83 on Friday. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12 month low of $27.11 and a 12 month high of $50.25. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 25.85 and a beta of 0.90. The business has a fifty day simple moving average of $44.22 and a 200-day simple moving average of $41.15.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data 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 company had revenue of $370.50 million during 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 business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share. Sell-side analysts predict that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on TSEM shares. Craig Hallum upped their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $55.00 price target 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 company a “positive” rating in a research 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 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 stock has an average rating of “Moderate Buy” and an average price target of $58.33.

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.