On January 28, Rockingstone Advisors disclosed a new position in Tower Semiconductor (TSEM 7.26%), acquiring 45,100 shares worth an estimated $5.30 million trade based on quarter-end pricing.
What happened
According to a SEC filing dated January 28, Rockingstone Advisors established a new stake in Tower Semiconductor, purchasing 45,100 shares. The fund’s quarter-end position in Tower Semiconductor reflected a $5.30 million valuation shift, which includes both the newly acquired shares and changes in share price.
What else to know
The new position represents 2.41% of Rockingstone’s $219.49 million in reportable AUM as of December 31.
Top five fund holdings after the filing:
- NYSEMKT: JPST: $8.65 million (3.9% of AUM)
- NASDAQ: GOOGL: $6.41 million (2.9% of AUM)
- NASDAQ: NVDA: $6.15 million (2.8% of AUM)
- NASDAQ: VGSH: $5.95 million (2.7% of AUM)
- NYSEMKT: VTI: $5.70 million (2.6% of AUM)
As of January 27, Tower Semiconductor shares were priced at $132.62, up a staggering 191.5% over the prior year and outperforming the S&P 500 by 175.40 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of January 27) | $132.62 |
| Market capitalization | $15.20 billion |
| Revenue (TTM) | $1.51 billion |
| Net income (TTM) | $195.48 million |
Company snapshot
- Tower Semiconductor manufactures analog-intensive mixed-signal semiconductor devices, including SiGe, BiCMOS, CMOS image sensors, RF CMOS, power management ICs, and MEMS.
- The company operates as an independent foundry, generating revenue through wafer fabrication services and customizable process technologies for integrated device manufacturers and fabless semiconductor companies.
- It serves a diversified global customer base across consumer electronics, communications, automotive, industrial, aerospace, military, and medical device sectors.
Tower Semiconductor is a leading independent semiconductor foundry with a global presence and a focus on analog and mixed-signal technologies. The company leverages advanced process capabilities and a flexible business model to address the specialized needs of customers in high-growth, high-reliability markets. Its strategic emphasis on customization and technology enablement positions it as a critical supplier for a broad range of industries requiring complex, high-performance semiconductor solutions.
What this transaction means for investors
Rockingstone’s new stake sits alongside liquid ETFs and mega-cap tech, which makes a focused analog foundry a deliberate deviation rather than a core index filler. That context matters, but Tower’s latest results help explain the conviction. Third-quarter revenue rose to $396 million, up 6% sequentially, while operating profit climbed to $50.6 million and net profit reached $54 million, or $0.48 per share. Just as important, management guided fourth-quarter revenue to about $440 million, which would mark a record and an 11% quarter-over-quarter increase. That outlook is being underwritten by demand in SiGe and silicon photonics, where Tower is investing an additional $300 million to expand capacity.
At today’s price, the stock reflects that momentum, but the business case isn’t purely cyclical. Tower’s mix skews toward analog, RF, and power management, areas with longer product lives and stickier customer relationships than leading-edge logic. For long-term investors, the takeaway is that this isn’t a momentum chase inside the portfolio. It’s a targeted bet that differentiated capacity and disciplined capital spending can sustain earnings power even after a massive run.
