USA Financial Formulas Invests $38,000 in Tower Semiconductor Ltd. (NASDAQ:TSEM)

USA Financial Formulas acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the third quarter, HoldingsChannel.com reports. The fund acquired 857 shares of the semiconductor company’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Tower Semiconductor by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock worth $126,808,000 after buying an additional 64,679 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Tower Semiconductor by 3.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,763,097 shares of the semiconductor company’s stock worth $147,927,000 after purchasing an additional 123,200 shares in the last quarter. Jennison Associates LLC boosted its stake in Tower Semiconductor by 28.1% in the 1st quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company’s stock worth $88,652,000 after purchasing an additional 580,610 shares in the last quarter. Meitav Investment House Ltd. boosted its stake in Tower Semiconductor by 25.6% in the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock worth $95,686,000 after purchasing an additional 495,380 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Tower Semiconductor by 1.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,958,981 shares of the semiconductor company’s stock worth $77,008,000 after purchasing an additional 20,347 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $45.53 on Friday. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12 month low of $21.43 and a 12 month high of $45.63. The company has a 50 day simple moving average of $41.47 and a two-hundred day simple moving average of $38.44. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 10.28 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. The business had revenue of $351.18 million during the quarter, compared to analysts’ expectations of $350.00 million. As a group, analysts predict that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSEM. StockNews.com cut shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Monday, September 9th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $51.33.

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.