Seven Eight Capital LP Purchases 12,732 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Seven Eight Capital LP lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 133.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,281 shares of the semiconductor company’s stock after acquiring an additional 12,732 shares during the period. Seven Eight Capital LP’s holdings in Tower Semiconductor were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. grew its position in Tower Semiconductor by 53.4% in the 1st quarter. Citigroup Inc. now owns 28,383 shares of the semiconductor company’s stock worth $1,376,000 after purchasing an additional 9,882 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tower Semiconductor in the 1st quarter worth approximately $208,000. Allianz Asset Management GmbH grew its position in Tower Semiconductor by 3.3% in the 1st quarter. Allianz Asset Management GmbH now owns 35,320 shares of the semiconductor company’s stock worth $1,712,000 after purchasing an additional 1,125 shares during the period. Vanguard Group Inc. grew its position in Tower Semiconductor by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,239,808 shares of the semiconductor company’s stock worth $156,807,000 after purchasing an additional 65,515 shares during the period. Finally, Ergoteles LLC bought a new stake in Tower Semiconductor in the 1st quarter worth approximately $4,979,000. Institutional investors own 60.41% of the company’s stock.

Tower Semiconductor Trading Down 1.5 %

Shares of Tower Semiconductor stock opened at $28.20 on Friday. The company’s fifty day simple moving average is $33.90 and its 200-day simple moving average is $38.65. The stock has a market capitalization of $3.08 billion, a PE ratio of 11.42 and a beta of 0.89. Tower Semiconductor Ltd. has a 1-year low of $27.33 and a 1-year high of $46.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.77 and a quick ratio of 3.68.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The business had revenue of $357.19 million for the quarter, compared to analysts’ expectations of $354.04 million. Tower Semiconductor had a net margin of 17.82% and a return on equity of 12.74%. The company’s revenue was down 16.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TSEM shares. Craig Hallum raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Thursday, August 17th. StockNews.com assumed coverage on shares of Tower Semiconductor in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, TheStreet cut shares of Tower Semiconductor from a “b-” rating to a “c+” rating in a research note on Thursday, August 24th.

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.