Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,674 shares of the semiconductor company’s stock after purchasing an additional 2,032 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tower Semiconductor were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Byrne Asset Management LLC purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $27,000. CVA Family Office LLC acquired a new position in shares of Tower Semiconductor during the fourth quarter worth $47,000. EverSource Wealth Advisors LLC boosted its stake in shares of Tower Semiconductor by 336.4% in the third quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 1,635 shares during the period. Ulland Investment Advisors LLC acquired a new stake in Tower Semiconductor during the 3rd quarter valued at $56,000. Finally, Seven Eight Capital LP acquired a new position in Tower Semiconductor in the 3rd quarter worth $317,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 0.6 %

Shares of NASDAQ:TSEM opened at $32.36 on Monday. The company has a 50 day moving average of $32.64 and a 200-day moving average of $29.47. The company has a current ratio of 6.17, a quick ratio of 5.15 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.54 billion, a P/E ratio of 6.96 and a beta of 0.94. Tower Semiconductor Ltd. has a twelve month low of $21.43 and a twelve month high of $45.87.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. The firm had revenue of $351.71 million for the quarter, compared to analysts’ expectations of $350.00 million. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSEM shares. Susquehanna initiated coverage on Tower Semiconductor in a research report on Thursday, February 29th. They set a “neutral” rating and a $36.00 target price on the stock. StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Finally, TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $36.33.

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.