King Luther Capital Management Corp Raises Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

King Luther Capital Management Corp lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,107 shares of the semiconductor company’s stock after acquiring an additional 695 shares during the quarter. King Luther Capital Management Corp’s holdings in Tower Semiconductor were worth $9,963,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TSEM. Transcendent Capital Group LLC purchased a new stake in Tower Semiconductor during the third quarter worth $27,000. USA Financial Formulas purchased a new stake in shares of Tower Semiconductor in the third quarter valued at $38,000. Blue Trust Inc. boosted its stake in shares of Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,376 shares during the last quarter. Signaturefd LLC increased its position in 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. Finally, State Board of Administration of Florida Retirement System acquired a new position in Tower Semiconductor in the 1st quarter valued at about $164,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $47.81 on Friday. Tower Semiconductor Ltd. has a 52 week low of $27.11 and a 52 week high of $50.25. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.30 billion, a P/E ratio of 25.84 and a beta of 0.90. The stock has a 50 day moving average of $44.01 and a 200-day moving average of $40.96.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. Tower Semiconductor’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. On average, analysts expect that Tower Semiconductor Ltd. will post 1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSEM. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a report on Thursday, November 14th. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Susquehanna raised their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Finally, Craig Hallum upped their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor currently has an average 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.