Barclays PLC Increases Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Barclays PLC grew its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 4,081.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,958 shares of the semiconductor company’s stock after buying an additional 23,385 shares during the period. Barclays PLC’s holdings in Tower Semiconductor were worth $1,060,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new position in Tower Semiconductor in the 3rd quarter worth $27,000. USA Financial Formulas bought a new position in shares of Tower Semiconductor in the 3rd quarter worth approximately $38,000. Blue Trust Inc. grew its stake in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC grew its stake in Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares during the period. Finally, Scientech Research LLC bought a new position in Tower Semiconductor in the second quarter worth $200,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Susquehanna upped their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note 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, Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Price Performance

Shares of TSEM opened at $51.01 on Wednesday. Tower Semiconductor Ltd. has a twelve month low of $28.02 and a twelve month high of $54.27. The firm has a 50 day moving average of $49.27 and a 200 day moving average of $44.48. 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 has a market capitalization of $5.65 billion, a P/E ratio of 27.57 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.12. The firm had revenue of $370.50 million during 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 firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. As a group, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.77 earnings per share 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.