Senvest Management LLC Buys 138,807 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Senvest Management LLC grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,320,433 shares of the semiconductor company’s stock after acquiring an additional 138,807 shares during the period. Tower Semiconductor comprises approximately 12.8% of Senvest Management LLC’s holdings, making the stock its biggest position. Senvest Management LLC owned 7.51% of Tower Semiconductor worth $368,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TSEM. Transcendent Capital Group LLC bought a new position in shares of Tower Semiconductor during the third quarter worth about $27,000. USA Financial Formulas bought a new position in Tower Semiconductor during the 3rd quarter worth approximately $38,000. Blue Trust Inc. grew its position in shares of 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 in the last quarter. Signaturefd LLC increased its holdings in shares of Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 431 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Tower Semiconductor during the 1st quarter valued at approximately $164,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TSEM shares. Craig Hallum lifted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Susquehanna raised their price target 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 shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $47.83 on Friday. The firm has a fifty day moving average of $44.22 and a 200-day moving average of $41.15. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 25.85 and a beta of 0.90. 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 Ltd. has a 1 year low of $27.11 and a 1 year high of $50.25.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The firm had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same period in the previous year, the business posted $0.47 EPS. Tower Semiconductor’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current year.

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.