Geode Capital Management LLC Buys 823 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Geode Capital Management LLC boosted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,847 shares of the semiconductor company’s stock after purchasing an additional 823 shares during the quarter. Geode Capital Management LLC owned 0.08% of Tower Semiconductor worth $4,154,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Tower Semiconductor by 4,081.2% during the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after acquiring an additional 23,385 shares in the last quarter. Gordian Capital Singapore Pte Ltd raised its holdings in shares of Tower Semiconductor by 140.0% during the third quarter. Gordian Capital Singapore Pte Ltd now owns 24,000 shares of the semiconductor company’s stock worth $1,062,000 after acquiring an additional 14,000 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Tower Semiconductor in the 3rd quarter valued at $1,979,000. Castleark Management LLC acquired a new position in Tower Semiconductor in the 3rd quarter worth $5,990,000. Finally, Sphera Funds Management LTD. boosted its stake in Tower Semiconductor by 40.0% in the 3rd quarter. Sphera Funds Management LTD. now owns 209,441 shares of the semiconductor company’s stock worth $9,270,000 after purchasing an additional 59,841 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TSEM shares. Susquehanna upped their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a report on Thursday, November 14th. Craig Hallum increased their price target on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $52.10 on Monday. Tower Semiconductor Ltd. has a twelve month low of $28.02 and a twelve month high of $54.27. The company has a market cap of $5.77 billion, a PE ratio of 28.16 and a beta of 0.89. The business’s 50 day moving average price is $48.08 and its two-hundred day moving average price is $43.83. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly 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. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. During the same quarter last year, the firm posted $0.47 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Tower Semiconductor 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.