Maverick Capital Ltd. Raises Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Maverick Capital Ltd. increased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,134 shares of the semiconductor company’s stock after purchasing an additional 1,157 shares during the quarter. Maverick Capital Ltd.’s holdings in Tower Semiconductor were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TSEM. Transcendent Capital Group LLC purchased a new position in Tower Semiconductor in the 3rd quarter worth $27,000. USA Financial Formulas bought a new stake in Tower Semiconductor in the 3rd quarter worth $38,000. Blue Trust Inc. grew its holdings in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares during the last quarter. Signaturefd LLC grew its holdings in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Tower Semiconductor in the 2nd quarter worth $177,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Trading Down 0.5 %

Shares of TSEM opened at $47.13 on Friday. The firm’s 50-day moving average price is $44.83 and its 200-day moving average price is $41.55. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 25.48 and a beta of 0.90. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 1-year low of $27.11 and a 1-year high of $50.25.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share 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 quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TSEM shares. 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 report on Thursday, November 14th. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a report on Thursday, November 14th. Finally, Susquehanna raised their price target 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. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Company 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.