State of New Jersey Common Pension Fund D Buys Shares of 7,457 Tower Semiconductor Ltd. (NASDAQ:TSEM)

State of New Jersey Common Pension Fund D bought a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,457 shares of the semiconductor company’s stock, valued at approximately $330,000.

Other institutional investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Tower Semiconductor in the 3rd quarter worth $27,000. USA Financial Formulas purchased a new position in Tower Semiconductor in the 3rd quarter worth $38,000. Blue Trust Inc. raised its stake in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares during the last quarter. Signaturefd LLC raised its stake in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Tower Semiconductor in the 2nd quarter worth $177,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $46.76 on Wednesday. The stock has a 50-day simple moving average of $43.80 and a two-hundred day simple moving average of $40.83. The firm has a market capitalization of $5.18 billion, a P/E ratio of 25.28 and a beta of 0.90. Tower Semiconductor Ltd. has a fifty-two week low of $27.11 and a fifty-two week high of $50.25. 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 (NASDAQ:TSEM) last announced its quarterly earnings results 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. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The firm had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same quarter in the previous year, the business earned $0.47 EPS. Tower Semiconductor’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TSEM shares. Craig Hallum raised their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna raised their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One 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 has an average rating of “Moderate Buy” and an average price target of $58.33.

About Tower Semiconductor

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.