Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp increased its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 57.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,412 shares of the semiconductor company’s stock after acquiring an additional 82,284 shares during the quarter. King Luther Capital Management Corp’s holdings in Tower Semiconductor were worth $8,822,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Tower Semiconductor by 34.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 413 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Tower Semiconductor by 3.2% in the second quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company’s stock valued at $623,000 after purchasing an additional 506 shares during the last quarter. DGS Capital Management LLC boosted its stake in Tower Semiconductor by 5.5% during the first quarter. DGS Capital Management LLC now owns 15,246 shares of the semiconductor company’s stock worth $510,000 after buying an additional 789 shares during the last quarter. Swiss National Bank grew its holdings in Tower Semiconductor by 1.0% in the 1st quarter. Swiss National Bank now owns 220,171 shares of the semiconductor company’s stock valued at $7,209,000 after buying an additional 2,189 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Tower Semiconductor in the 4th quarter worth $71,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Trading Up 1.7 %

Tower Semiconductor stock opened at $42.31 on Friday. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average price of $40.85 and a 200 day moving average price of $37.35. Tower Semiconductor Ltd. has a fifty-two week low of $21.43 and a fifty-two week high of $44.58.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. The firm had revenue of $351.18 million for the quarter, compared to analyst estimates of $350.00 million. Analysts forecast that Tower Semiconductor Ltd. will post 1.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSEM has been the topic of several recent research reports. Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research report on Monday, September 9th. StockNews.com downgraded shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tower Semiconductor presently has an average rating of “Buy” and a consensus target price of $51.33.

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.