Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 4.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 28,898 shares of the semiconductor company’s stock after buying an additional 1,305 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tower Semiconductor were worth $1,031,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TSEM. Caption Management LLC purchased a new position in shares of Tower Semiconductor in the 4th quarter worth $155,000. Squarepoint Ops LLC purchased a new position in shares of Tower Semiconductor in the 4th quarter worth $247,000. Cetera Investment Advisers purchased a new position in shares of Tower Semiconductor in the 4th quarter worth $249,000. Fifth Third Bancorp raised its position in shares of Tower Semiconductor by 18.0% in the 1st quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company’s stock worth $352,000 after buying an additional 1,509 shares during the period. Finally, Brasada Capital Management LP purchased a new position in shares of Tower Semiconductor in the 4th quarter worth $412,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Up 14.1%

NASDAQ:TSEM opened at $50.98 on Tuesday. The business’s 50-day moving average is $43.75 and its two-hundred day moving average is $41.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 5.82. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $55.31. The firm has a market capitalization of $5.65 billion, a PE ratio of 28.17 and a beta of 0.77.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). The company had revenue of $372.06 million during the quarter, compared to analysts’ expectations of $371.63 million. Tower Semiconductor had a net margin of 13.86% and a return on equity of 7.73%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.53 earnings per share. Research analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Benchmark raised their price objective on Tower Semiconductor from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

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.