Oliver Luxxe Assets LLC Buys 2,322 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Oliver Luxxe Assets LLC grew its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,378 shares of the semiconductor company’s stock after purchasing an additional 2,322 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Tower Semiconductor were worth $2,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Tower Semiconductor during the 3rd quarter worth approximately $27,000. USA Financial Formulas acquired a new stake in Tower Semiconductor in the third quarter valued at $38,000. Blue Trust Inc. raised its position in Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC increased its stake in shares of Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares during the period. Finally, Scientech Research LLC bought a new position in shares of Tower Semiconductor during the second quarter worth about $200,000. 70.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on TSEM shares. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Susquehanna increased their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Craig Hallum boosted their target price 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. Finally, Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Stock Down 0.3 %

NASDAQ:TSEM traded down $0.18 during trading hours on Monday, reaching $51.92. The company had a trading volume of 636,246 shares, compared to its average volume of 737,558. The business’s 50-day simple moving average is $48.08 and its two-hundred day simple moving average is $43.83. Tower Semiconductor Ltd. has a twelve month low of $28.02 and a twelve month high of $54.27. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 28.06 and a beta of 0.89. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The business had revenue of $370.50 million for 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%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.47 EPS. On average, equities analysts expect that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current 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.