Dakota Wealth Management Buys Shares of 17,866 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Dakota Wealth Management bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,866 shares of the semiconductor company’s stock, valued at approximately $920,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Point72 Asset Management L.P. grew its stake in Tower Semiconductor by 203.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after acquiring an additional 2,083,262 shares in the last quarter. Summit Partners Public Asset Management LLC grew its position in Tower Semiconductor by 1,146.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after purchasing an additional 1,376,315 shares in the last quarter. Scopia Capital Management LP acquired a new position in Tower Semiconductor in the 3rd quarter valued at approximately $13,926,000. Assenagon Asset Management S.A. purchased a new stake in Tower Semiconductor in the 3rd quarter worth approximately $11,094,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Tower Semiconductor by 14.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,298,833 shares of the semiconductor company’s stock valued at $51,057,000 after buying an additional 168,827 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

TSEM opened at $54.74 on Friday. The stock has a 50-day moving average of $50.33 and a 200-day moving average of $45.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. Tower Semiconductor Ltd. has a 52-week low of $28.11 and a 52-week high of $55.31. The company has a market cap of $6.07 billion, a PE ratio of 29.59 and a beta of 0.89.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TSEM shares. Susquehanna upped their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Craig Hallum raised their price target on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. One investment 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, the company presently 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.