PDT Partners LLC Buys New Shares in Tower Semiconductor Ltd. (NASDAQ:TSEM)

PDT Partners LLC bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,536 shares of the semiconductor company’s stock, valued at approximately $2,015,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Partners Public Asset Management LLC lifted its holdings in shares of Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after acquiring an additional 1,376,315 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tower Semiconductor by 1.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,189 shares of the semiconductor company’s stock worth $4,346,000 after purchasing an additional 1,645 shares during the last quarter. Senvest Management LLC raised its stake in Tower Semiconductor by 1.7% during the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock worth $368,262,000 after purchasing an additional 138,807 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of Tower Semiconductor by 0.3% in the 3rd quarter. King Luther Capital Management Corp now owns 225,107 shares of the semiconductor company’s stock valued at $9,963,000 after purchasing an additional 695 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Tower Semiconductor by 1.5% during the 3rd quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock valued at $123,529,000 after buying an additional 40,038 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research 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. Craig Hallum boosted their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating 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 company a “positive” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Down 0.5 %

Shares of NASDAQ TSEM opened at $47.13 on Friday. The stock has a fifty day moving average price of $44.83 and a 200 day moving average price of $41.55. The company has a market cap of $5.22 billion, a P/E ratio of 25.48 and a beta of 0.90. Tower Semiconductor Ltd. has a 12-month low of $27.11 and a 12-month 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.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 earnings per share. Research analysts anticipate that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

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.