Gordian Capital Singapore Pte Ltd Buys 14,000 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Gordian Capital Singapore Pte Ltd boosted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 140.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,000 shares of the semiconductor company’s stock after purchasing an additional 14,000 shares during the period. Gordian Capital Singapore Pte Ltd’s holdings in Tower Semiconductor were worth $1,062,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSEM. Point72 Asset Management L.P. increased its stake in shares of Tower Semiconductor by 203.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock worth $137,444,000 after purchasing an additional 2,083,262 shares during the last quarter. Summit Partners Public Asset Management LLC increased its position in Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after buying an additional 1,376,315 shares during the period. Y.D. More Investments Ltd raised its stake in Tower Semiconductor by 9,622.0% in the 2nd quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company’s stock worth $35,952,000 after purchasing an additional 902,546 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in shares of Tower Semiconductor by 25.6% in the second quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock valued at $95,686,000 after buying an additional 495,380 shares during the period. Finally, Scopia Capital Management LP acquired a new stake in shares of Tower Semiconductor during the 3rd quarter worth $13,926,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $49.82 on Monday. The company has a market cap of $5.52 billion, a P/E ratio of 26.93 and a beta of 0.92. The company has a fifty day simple moving average of $45.43 and a 200 day simple moving average of $42.01. Tower Semiconductor Ltd. has a 12-month low of $27.99 and a 12-month high of $50.66. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.12. The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. Tower Semiconductor’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. Sell-side analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TSEM. Susquehanna lifted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a report on Thursday, November 14th. Finally, Craig Hallum upped their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

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.