Russell Investments Group Ltd. Increases Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Russell Investments Group Ltd. increased its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 169.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 171,579 shares of the semiconductor company’s stock after buying an additional 107,898 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Tower Semiconductor worth $5,237,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC acquired a new stake in Tower Semiconductor during the 3rd quarter worth approximately $27,000. CVA Family Office LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth $47,000. EverSource Wealth Advisors LLC grew its position in 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 grew its position in Tower Semiconductor by 189.8% in the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 1,321 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Tower Semiconductor in the 3rd quarter valued at $317,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSEM. Susquehanna assumed coverage on shares of Tower Semiconductor in a report on Thursday, February 29th. They issued a “neutral” rating and a $36.00 target price on the stock. TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research report on Friday, March 8th. Finally, StockNews.com raised Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Tower Semiconductor has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Tower Semiconductor Trading Up 6.4 %

Shares of TSEM opened at $36.44 on Friday. Tower Semiconductor Ltd. has a twelve month low of $21.43 and a twelve month high of $42.11. The company has a current ratio of 6.17, a quick ratio of 5.15 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.98 billion, a P/E ratio of 7.84 and a beta of 0.93. The firm’s 50-day moving average is $32.69 and its two-hundred day moving average is $30.09.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $351.71 million for the quarter, compared to analysts’ expectations of $350.00 million. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. On average, research analysts predict that Tower Semiconductor Ltd. will post 1.52 earnings per share for the current fiscal 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.