Oliver Luxxe Assets LLC Takes Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Oliver Luxxe Assets LLC purchased a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,941 shares of the semiconductor company’s stock, valued at approximately $533,000.

A number of other hedge funds also recently made changes to their positions in TSEM. CVA Family Office LLC acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at approximately $47,000. Quadrant Capital Group LLC increased its stake in shares of Tower Semiconductor by 34.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 413 shares during the period. Signaturefd LLC increased its stake in shares of Tower Semiconductor by 189.8% during the fourth quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 1,321 shares during the period. Principal Securities Inc. acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at approximately $71,000. Finally, Seven Eight Capital LP acquired a new position in shares of Tower Semiconductor during the third quarter valued at approximately $317,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 0.9 %

NASDAQ TSEM opened at $39.67 on Tuesday. Tower Semiconductor Ltd. has a twelve month low of $21.43 and a twelve month high of $40.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 5.38. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 9.00 and a beta of 0.90. The firm’s 50 day moving average price is $36.70 and its two-hundred day moving average price is $33.19.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.08. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. The firm had revenue of $327.24 million for the quarter, compared to analysts’ expectations of $325.00 million. Equities analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on TSEM. TheStreet upgraded shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of Tower Semiconductor in a research report on Friday, May 10th. Susquehanna upgraded shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $36.00 to $55.00 in a research report on Friday, May 10th. Finally, Craig Hallum lifted their price target on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $46.33.

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.