Ameriprise Financial Inc. Has $8.34 Million Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Ameriprise Financial Inc. boosted its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 161,847 shares of the semiconductor company’s stock after purchasing an additional 4,457 shares during the quarter. Ameriprise Financial Inc. owned about 0.15% of Tower Semiconductor worth $8,337,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd acquired a new stake in Tower Semiconductor in the 4th quarter valued at $61,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 230 shares in the last quarter. Crews Bank & Trust bought a new position in Tower Semiconductor during the 4th quarter valued at $134,000. Cornerstone Investment Partners LLC bought a new position in Tower Semiconductor during the 4th quarter valued at $203,000. Finally, Callan Family Office LLC bought a new position in Tower Semiconductor during the 4th quarter valued at $323,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday, May 15th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Trading Up 0.1%

NASDAQ TSEM opened at $41.19 on Wednesday. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 22.15 and a beta of 0.75. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The business’s fifty day moving average is $36.62 and its 200-day moving average is $43.90.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $358.17 million for the quarter, compared to the consensus estimate of $358.09 million. Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Equities research analysts predict that Tower Semiconductor Ltd. will post 1.67 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.