Epoch Investment Partners Inc. Invests $31.85 Million in Tower Semiconductor Ltd. (TSEM)

Epoch Investment Partners Inc. acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,463,710 shares of the semiconductor company’s stock, valued at approximately $31,850,000.

Several other hedge funds have also bought and sold shares of TSEM. FIL Ltd increased its position in Tower Semiconductor by 0.4% in the 3rd quarter. FIL Ltd now owns 1,568,269 shares of the semiconductor company’s stock valued at $34,126,000 after buying an additional 6,269 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Tower Semiconductor by 23.4% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,389,886 shares of the semiconductor company’s stock valued at $30,244,000 after buying an additional 263,833 shares in the last quarter. Victory Capital Management Inc. increased its position in Tower Semiconductor by 8.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,323,594 shares of the semiconductor company’s stock valued at $28,802,000 after buying an additional 101,270 shares in the last quarter. Bank of America Corp DE increased its position in Tower Semiconductor by 10.9% in the 2nd quarter. Bank of America Corp DE now owns 955,557 shares of the semiconductor company’s stock valued at $21,031,000 after buying an additional 94,288 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in Tower Semiconductor by 14.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 761,546 shares of the semiconductor company’s stock valued at $16,571,000 after buying an additional 96,971 shares in the last quarter. 47.47% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group decreased their target price on Tower Semiconductor from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of Tower Semiconductor in a research report on Tuesday, October 30th. TheStreet lowered Tower Semiconductor from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. Finally, ValuEngine lowered Tower Semiconductor from a “hold” rating to a “sell” rating in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Tower Semiconductor currently has a consensus rating of “Buy” and an average price target of $26.50.

TSEM stock opened at $15.74 on Friday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 1.10 and a beta of 1.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.93 and a quick ratio of 3.27. Tower Semiconductor Ltd. has a 52-week low of $13.78 and a 52-week high of $36.08.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Monday, October 29th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $322.60 million for the quarter, compared to analyst estimates of $335.05 million. Tower Semiconductor had a net margin of 18.43% and a return on equity of 15.82%. Tower Semiconductor’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. On average, analysts forecast that Tower Semiconductor Ltd. will post 1.45 EPS for the current year.

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Tower Semiconductor Profile

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.

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

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