7,210 Shares in Tower Semiconductor Ltd. $TSEM Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. purchased a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,210 shares of the semiconductor company’s stock, valued at approximately $521,000.

Several other institutional investors have also made changes to their positions in TSEM. Westside Investment Management Inc. boosted its holdings in Tower Semiconductor by 100.0% in the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 226 shares in the last quarter. Covestor Ltd bought a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $52,000. GF Fund Management CO. LTD. bought a new position in Tower Semiconductor during the 3rd quarter valued at about $83,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Tower Semiconductor in the 3rd quarter valued at $92,000. Finally, Spinnaker Investment Group LLC acquired a new position in shares of Tower Semiconductor during the third quarter worth approximately $202,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $128.47 on Friday. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $149.57. The company has a fifty day moving average price of $126.23 and a 200-day moving average price of $94.40. The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 66.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. The company had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.Tower Semiconductor’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. As a group, equities research analysts predict that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 target price on shares of Tower Semiconductor in a research report on Thursday, February 12th. Benchmark raised their price objective on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Barclays upped 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 note on Friday, February 13th. Finally, Wedbush boosted their price objective 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. 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, Tower Semiconductor currently has an average rating of “Hold” and a consensus target price of $156.75.

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.