Fifth Third Bancorp Has $352,000 Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Fifth Third Bancorp raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 18.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 9,885 shares of the semiconductor company’s stock after purchasing an additional 1,509 shares during the period. Fifth Third Bancorp’s holdings in Tower Semiconductor were worth $352,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares during the period. Caption Management LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at $155,000. Cornerstone Investment Partners LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at $203,000. Squarepoint Ops LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at $247,000. Finally, Cetera Investment Advisers bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at $249,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Ratings Changes

Separately, Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday, May 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $39.88 on Thursday. The firm has a market capitalization of $4.42 billion, a P/E ratio of 22.03 and a beta of 0.77. The company has a fifty day moving average of $38.56 and a 200-day moving average of $43.15. The company has a quick ratio of 5.82, a current ratio of 6.93 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly 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). Tower Semiconductor had a net margin of 13.86% and a return on equity of 7.73%. The business had revenue of $358.17 million for the quarter, compared to the consensus estimate of $358.09 million. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.