Swiss National Bank Has $9.68 Million Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Swiss National Bank lessened its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 218,172 shares of the semiconductor company’s stock after selling 1,570 shares during the quarter. Swiss National Bank owned approximately 0.20% of Tower Semiconductor worth $9,683,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its stake in Tower Semiconductor by 9,622.0% during the second 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 during the period. Point72 Asset Management L.P. increased its stake in shares of Tower Semiconductor by 169.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,022,121 shares of the semiconductor company’s stock valued at $40,180,000 after acquiring an additional 642,121 shares in the last quarter. Meitav Investment House Ltd. increased its stake in shares of Tower Semiconductor by 25.6% in the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock valued at $95,686,000 after acquiring an additional 495,380 shares in the last quarter. Boston Partners lifted its position in shares of Tower Semiconductor by 453.9% during the 1st quarter. Boston Partners now owns 328,843 shares of the semiconductor company’s stock valued at $10,995,000 after acquiring an additional 269,476 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Tower Semiconductor during the third quarter worth $11,094,000. Institutional investors own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSEM shares. Craig Hallum upped their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. Finally, Susquehanna upped their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $47.83 on Monday. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 25.85 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. Tower Semiconductor Ltd. has a fifty-two week low of $27.11 and a fifty-two week high of $50.25. The firm’s 50-day simple moving average is $44.22 and its 200 day simple moving average is $41.15.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.47 earnings per share. As a group, research analysts anticipate that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal 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.