Calamos Advisors LLC Buys New Stake in Tower Semiconductor Ltd. $TSEM

Calamos Advisors LLC acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,664 shares of the semiconductor company’s stock, valued at approximately $699,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Tower Semiconductor by 14.8% during the second quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 227 shares in the last quarter. Spinnaker Investment Group LLC purchased a new position in Tower Semiconductor during the 3rd quarter worth approximately $202,000. PharVision Advisers LLC acquired a new position in Tower Semiconductor during the second quarter worth approximately $207,000. Park National Corp OH purchased a new stake in Tower Semiconductor in the third quarter valued at approximately $208,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Tower Semiconductor in the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $117.42 on Friday. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 68.27 and a beta of 0.87. The business’s 50 day moving average is $105.03 and its two-hundred day moving average is $73.36. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $129.58. The company has a current ratio of 6.61, a quick ratio of 5.54 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

TSEM has been the topic of a number of recent research reports. Wedbush cut shares of Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a report on Wednesday. Susquehanna lifted their price objective on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research note on Tuesday, November 11th. Benchmark upped their target price on shares of Tower Semiconductor from $73.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday. Finally, Barclays boosted their price target on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $119.25.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.