Assetmark Inc. Has $379,000 Stock Position in Tower Semiconductor Ltd. $TSEM

Assetmark Inc. grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12,816.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,229 shares of the semiconductor company’s stock after purchasing an additional 3,204 shares during the period. Assetmark Inc.’s holdings in Tower Semiconductor were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Mackenzie Financial Corp raised its holdings in shares of Tower Semiconductor by 2.6% during the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 127 shares during the period. Mariner LLC raised its holdings in shares of Tower Semiconductor by 2.4% during the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after purchasing an additional 207 shares during the period. Westside Investment Management Inc. raised its holdings in shares of Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 226 shares during the period. USA Financial Formulas acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at about $27,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $201.27 on Friday. Tower Semiconductor Ltd. has a fifty-two week low of $34.73 and a fifty-two week high of $228.73. The stock has a market cap of $22.63 billion, a price-to-earnings ratio of 104.29 and a beta of 0.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The firm’s 50-day simple moving average is $161.68 and its 200 day simple moving average is $126.72.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. The firm had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. As a group, research analysts anticipate that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TSEM shares. Benchmark upped their price objective on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Wedbush raised their price target on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of Tower Semiconductor in a research report on Thursday, February 12th. Barclays raised their price target on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $173.00.

About Tower Semiconductor

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.