Wealth Enhancement Advisory Services LLC Has $525,000 Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Wealth Enhancement Advisory Services LLC raised its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,715 shares of the semiconductor company’s stock after purchasing an additional 1,138 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Tower Semiconductor were worth $525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TSEM. Caption Management LLC acquired a new position in Tower Semiconductor in the 4th quarter valued at approximately $155,000. Squarepoint Ops LLC acquired a new position in Tower Semiconductor in the 4th quarter valued at approximately $247,000. Cetera Investment Advisers acquired a new position in Tower Semiconductor in the 4th quarter valued at approximately $249,000. Callan Family Office LLC acquired a new position in Tower Semiconductor in the 4th quarter valued at approximately $323,000. Finally, Fifth Third Bancorp increased its position in Tower Semiconductor by 18.0% in the 1st quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company’s stock valued at $352,000 after acquiring an additional 1,509 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tower Semiconductor Trading Up 7.7%

NASDAQ:TSEM opened at $47.05 on Friday. The company has a fifty day moving average of $40.42 and a 200 day moving average of $42.52. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $55.31. The company has a quick ratio of 5.82, a current ratio of 6.93 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.21 billion, a P/E ratio of 25.99 and a beta of 0.79.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, May 14th. The semiconductor company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $358.17 million during the quarter, compared to the consensus estimate of $358.09 million. Tower Semiconductor had a return on equity of 7.73% and a net margin of 13.86%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.40 earnings per share. On average, research analysts predict that Tower Semiconductor Ltd. will post 1.67 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.