Oliver Luxxe Assets LLC Buys 2,322 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Oliver Luxxe Assets LLC boosted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,378 shares of the semiconductor company’s stock after acquiring an additional 2,322 shares during the period. Oliver Luxxe Assets LLC’s holdings in Tower Semiconductor were worth $2,292,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Transcendent Capital Group LLC acquired a new position in Tower Semiconductor in the 3rd quarter valued at approximately $27,000. USA Financial Formulas acquired a new position in shares of Tower Semiconductor in the 3rd quarter worth approximately $38,000. Blue Trust Inc. raised its position in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC lifted its position in Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after buying an additional 431 shares in the last quarter. Finally, Scientech Research LLC bought a new position in shares of Tower Semiconductor in the second quarter worth about $200,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ:TSEM traded down $0.18 on Monday, hitting $51.92. The company’s stock had a trading volume of 636,246 shares, compared to its average volume of 737,558. The firm has a market capitalization of $5.75 billion, a P/E ratio of 28.06 and a beta of 0.89. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a one year low of $28.02 and a one year high of $54.27. The stock has a fifty day moving average of $48.08 and a two-hundred day moving average of $43.83.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same period last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Research analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. Craig Hallum boosted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Susquehanna increased their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

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.