Thrivent Financial for Lutherans Acquires 1,451 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Thrivent Financial for Lutherans grew its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,820 shares of the semiconductor company’s stock after acquiring an additional 1,451 shares during the period. Thrivent Financial for Lutherans’ holdings in Tower Semiconductor were worth $567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Essex Investment Management Co. LLC grew its position in shares of Tower Semiconductor by 7.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock valued at $7,948,000 after acquiring an additional 12,551 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Tower Semiconductor by 1.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after buying an additional 50,000 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Tower Semiconductor during the 3rd quarter valued at $11,094,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Tower Semiconductor during the 3rd quarter valued at $573,000. Finally, Foundry Partners LLC purchased a new position in shares of Tower Semiconductor during the 2nd quarter valued at $519,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Up 1.3 %

Shares of TSEM stock opened at $49.59 on Thursday. The stock has a market cap of $5.50 billion, a P/E ratio of 26.81 and a beta of 0.92. Tower Semiconductor Ltd. has a 52 week low of $27.15 and a 52 week high of $50.25. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $45.19 and its two-hundred day simple moving average is $41.80.

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

Analyst Ratings Changes

TSEM has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. Craig Hallum lifted their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Susquehanna boosted 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. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Tower Semiconductor currently has an average rating of “Moderate Buy” and a consensus 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.