Turiya Advisors Asia Ltd Makes New Investment in Tower Semiconductor Ltd. $TSEM

Turiya Advisors Asia Ltd acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,472,045 shares of the semiconductor company’s stock, valued at approximately $172,848,000. Tower Semiconductor makes up 26.5% of Turiya Advisors Asia Ltd’s investment portfolio, making the stock its 2nd largest holding.

A number of other institutional investors have also recently made changes to their positions in TSEM. Amundi lifted its holdings in shares of Tower Semiconductor by 86.8% in the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Tower Semiconductor by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after acquiring an additional 3,954 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tower Semiconductor by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 662 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Tower Semiconductor in the 2nd quarter valued at about $438,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Tower Semiconductor in the 2nd quarter valued at about $5,809,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of analyst reports. Barclays increased their price target on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Wedbush raised their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Benchmark raised their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Susquehanna raised their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Stock Performance

Shares of NASDAQ:TSEM opened at $258.34 on Friday. The firm has a market cap of $29.05 billion, a PE ratio of 120.16 and a beta of 0.87. The firm’s 50 day simple moving average is $232.40 and its 200-day simple moving average is $165.09. Tower Semiconductor Ltd. has a one year low of $37.48 and a one year high of $302.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. As a group, equities analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

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.