Boston Partners Boosts Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Boston Partners boosted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 453.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 328,843 shares of the semiconductor company’s stock after purchasing an additional 269,476 shares during the period. Boston Partners’ holdings in Tower Semiconductor were worth $10,995,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Theleme Partners LLP bought a new stake in shares of Tower Semiconductor during the fourth quarter valued at approximately $67,717,000. Norges Bank purchased a new stake in shares of Tower Semiconductor in the 4th quarter worth $45,303,000. Victory Capital Management Inc. lifted its holdings in shares of Tower Semiconductor by 83.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock worth $96,456,000 after buying an additional 1,437,535 shares during the period. Shannon River Fund Management LLC bought a new position in shares of Tower Semiconductor during the 4th quarter worth $38,538,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Tower Semiconductor during the first quarter valued at $34,911,000. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Stock Down 4.4 %

TSEM stock traded down $1.71 during midday trading on Friday, reaching $37.48. The stock had a trading volume of 394,561 shares, compared to its average volume of 607,997. The firm has a fifty day simple moving average of $39.55 and a two-hundred day simple moving average of $34.94. Tower Semiconductor Ltd. has a 52-week low of $21.43 and a 52-week high of $44.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $327.24 million during the quarter, compared to analyst estimates of $325.00 million. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. On average, research analysts forecast that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSEM. StockNews.com cut shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, July 19th. Benchmark reaffirmed a “buy” rating and set a $40.00 target price on shares of Tower Semiconductor in a research report on Friday, May 10th. Craig Hallum raised their price objective on Tower Semiconductor from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Susquehanna raised shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and increased their price target for the company from $36.00 to $55.00 in a research report on Friday, May 10th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Buy” and an average price target of $46.33.

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.