Andar Capital Management HK Ltd Buys Shares of 42,000 Tower Semiconductor Ltd. $TSEM

Andar Capital Management HK Ltd bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 42,000 shares of the semiconductor company’s stock, valued at approximately $3,037,000. Tower Semiconductor comprises about 3.1% of Andar Capital Management HK Ltd’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds also recently made changes to their positions in TSEM. Westside Investment Management Inc. grew its holdings in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after buying an additional 226 shares in the last quarter. Blue Trust Inc. boosted its position in Tower Semiconductor by 14.8% during the 2nd quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 227 shares during the period. Orion Porfolio Solutions LLC boosted its position in Tower Semiconductor by 1.1% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 28,517 shares of the semiconductor company’s stock worth $1,236,000 after acquiring an additional 301 shares during the period. Oak Associates Ltd. OH grew its stake in shares of Tower Semiconductor by 1.8% in the second quarter. Oak Associates Ltd. OH now owns 20,191 shares of the semiconductor company’s stock worth $875,000 after purchasing an additional 350 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tower Semiconductor by 3.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 17,188 shares of the semiconductor company’s stock valued at $1,239,000 after purchasing an additional 603 shares during the period. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $128.74 on Friday. The company has a quick ratio of 5.54, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $149.57. The business has a fifty day simple moving average of $125.78 and a 200-day simple moving average of $91.90.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The firm had revenue of $440.21 million for the quarter, compared to analysts’ expectations of $439.81 million. During the same quarter last year, the business posted $0.49 EPS. Tower Semiconductor’s revenue was up 13.7% on a year-over-year basis. On average, research analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSEM. Wedbush increased their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Barclays upped their target price on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday. Susquehanna reiterated a “positive” rating and set a $180.00 price target on shares of Tower Semiconductor in a research report on Thursday. Finally, Benchmark upped their price objective on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Tower Semiconductor presently has an average rating of “Hold” and a consensus target price of $156.75.

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.