Raymond James & Associates Has $5.30 Million Position in Tower Semiconductor (TSEM)

Raymond James & Associates increased its position in shares of Tower Semiconductor (NASDAQ:TSEM) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,347 shares of the semiconductor company’s stock after acquiring an additional 34,024 shares during the quarter. Raymond James & Associates owned approximately 0.16% of Tower Semiconductor worth $5,301,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd boosted its position in Tower Semiconductor by 55.4% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 911,520 shares of the semiconductor company’s stock worth $31,065,000 after acquiring an additional 325,000 shares during the last quarter. Acadian Asset Management LLC raised its stake in Tower Semiconductor by 50.6% during the fourth quarter. Acadian Asset Management LLC now owns 688,437 shares of the semiconductor company’s stock worth $23,463,000 after purchasing an additional 231,396 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Tower Semiconductor during the fourth quarter worth approximately $22,891,000. Monarch Partners Asset Management LLC raised its stake in Tower Semiconductor by 22.5% during the fourth quarter. Monarch Partners Asset Management LLC now owns 611,935 shares of the semiconductor company’s stock worth $20,855,000 after purchasing an additional 112,365 shares during the period. Finally, Waters Parkerson & CO. LLC raised its stake in Tower Semiconductor by 7.2% during the third quarter. Waters Parkerson & CO. LLC now owns 427,500 shares of the semiconductor company’s stock worth $13,146,000 after purchasing an additional 28,675 shares during the period. Hedge funds and other institutional investors own 47.66% of the company’s stock.

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NASDAQ:TSEM opened at $26.91 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.42 and a debt-to-equity ratio of 0.22. The company has a market cap of $2,649.50, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.83 and a beta of 1.09. Tower Semiconductor has a fifty-two week low of $20.60 and a fifty-two week high of $36.69.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. Tower Semiconductor had a net margin of 21.48% and a return on equity of 26.17%. The company had revenue of $358.00 million for the quarter, compared to the consensus estimate of $358.10 million. During the same quarter last year, the firm posted $0.52 earnings per share. Tower Semiconductor’s revenue was up 5.3% on a year-over-year basis. equities analysts predict that Tower Semiconductor will post 2.17 earnings per share for the current fiscal year.

A number of research firms have weighed in on TSEM. BidaskClub raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $46.00 price target on shares of Tower Semiconductor in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Tower Semiconductor presently has an average rating of “Buy” and a consensus target price of $43.75.

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About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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