Eagle Global Advisors LLC Increases Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Eagle Global Advisors LLC lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 8.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 79,223 shares of the semiconductor company’s stock after purchasing an additional 6,000 shares during the period. Eagle Global Advisors LLC’s holdings in Tower Semiconductor were worth $2,418,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. CVA Family Office LLC acquired a new position in Tower Semiconductor in the fourth quarter valued at approximately $47,000. Quadrant Capital Group LLC boosted its holdings in shares of Tower Semiconductor by 34.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 413 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Tower Semiconductor by 336.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 1,635 shares during the last quarter. Signaturefd LLC raised its stake in Tower Semiconductor by 189.8% during the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Principal Securities Inc. purchased a new stake in Tower Semiconductor in the fourth quarter valued at $71,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TSEM. StockNews.com raised Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Tower Semiconductor in a research note on Friday, May 10th. Craig Hallum raised their target price on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, Susquehanna raised shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and lifted their target price for the company from $36.00 to $55.00 in a report on Friday, May 10th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $46.33.

Tower Semiconductor Stock Performance

TSEM stock traded up $0.85 during trading on Friday, hitting $37.66. The company had a trading volume of 327,051 shares, compared to its average volume of 421,864. Tower Semiconductor Ltd. has a 1-year low of $21.43 and a 1-year high of $41.67. The firm has a 50-day moving average price of $33.74 and a 200-day moving average price of $31.13. The company has a quick ratio of 4.46, a current ratio of 5.38 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.12 billion, a PE ratio of 8.54 and a beta of 0.93.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. The business had revenue of $327.24 million for the quarter, compared to analyst estimates of $325.00 million. On average, analysts expect that Tower Semiconductor Ltd. will post 1.64 earnings per share for the current year.

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.