First Hawaiian Bank Buys New Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

First Hawaiian Bank purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,584 shares of the semiconductor company’s stock, valued at approximately $770,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Tower Semiconductor by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock worth $126,808,000 after purchasing an additional 64,679 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Tower Semiconductor by 28.9% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,639,897 shares of the semiconductor company’s stock valued at $121,755,000 after buying an additional 816,266 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Tower Semiconductor by 83.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock worth $96,456,000 after purchasing an additional 1,437,535 shares during the last quarter. Jennison Associates LLC lifted its stake in Tower Semiconductor by 28.1% during the first 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 during the last quarter. Finally, Theleme Partners LLP bought a new position in Tower Semiconductor during the fourth quarter worth $67,717,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

TSEM stock traded down $1.23 during mid-day trading on Monday, reaching $36.25. The company had a trading volume of 664,442 shares, compared to its average volume of 561,837. Tower Semiconductor Ltd. has a 52 week low of $21.43 and a 52 week high of $44.18. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $39.55 and a two-hundred day simple moving average of $35.03.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. The business had revenue of $327.24 million for the quarter, compared to the consensus estimate of $325.00 million. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

Analysts Set New Price Targets

TSEM has been the topic of a number of research analyst reports. Craig Hallum raised their price target on Tower Semiconductor from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, May 10th. Susquehanna raised Tower Semiconductor from a “neutral” rating to a “positive” rating and raised their price objective for the company from $36.00 to $55.00 in a research note on Friday, May 10th. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of Tower Semiconductor in a research report on Friday, May 10th. Finally, StockNews.com lowered Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Buy” and an average price target of $46.33.

Tower Semiconductor Company 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.