Systematic Financial Management LP Has $96.31 Million Holdings in Tower Semiconductor Ltd. $TSEM

Key Points

• Systematic Financial Management LP reduced its Tower Semiconductor stake by 15.7% in Q1, selling 101,928 shares and ending with 548,860 shares worth about $96.3 million. Tower Semiconductor remains the fund’s largest holding, making up 2.2% of its portfolio.
• Institutional ownership remains high, with investors holding 70.51% of Tower Semiconductor shares. Several other firms recently initiated or increased positions, though many of those stakes were relatively small.
• Analyst sentiment is mixed but constructive: the stock has a consensus rating of “Moderate Buy” with an average price target of $276.75. Recent reports from Benchmark, Susquehanna, UBS, and Wedbush included buy/positive views and sharply higher targets.

Systematic Financial Management LP lessened its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 548,860 shares of the semiconductor company's stock after selling 101,928 shares during the quarter. Tower Semiconductor accounts for 2.2% of Systematic Financial Management LP's portfolio, making the stock its biggest holding. Systematic Financial Management LP owned 0.49% of Tower Semiconductor worth $96,314,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. USA Financial Formulas purchased a new position in Tower Semiconductor in the fourth quarter worth about $27,000. Hanson & Doremus Investment Management purchased a new stake in shares of Tower Semiconductor during the 1st quarter valued at about $53,000. CIBC Private Wealth Group LLC increased its position in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor in the 4th quarter worth approximately $52,000. Finally, SBI Securities Co. Ltd. grew its position in Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company's stock valued at $61,000 after buying an additional 403 shares during the period. Institutional investors own 70.51% of the company's stock.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $260.42 on Friday. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 121.13 and a beta of 0.87. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The stock's 50-day simple moving average is $255.61 and its 200-day simple moving average is $193.69. Tower Semiconductor Ltd. has a 52 week low of $43.12 and a 52 week high of $319.94.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of analyst reports. Benchmark restated a "buy" rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a "positive" rating in a research note on Thursday, May 14th. UBS Group reaffirmed a "buy" rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Finally, Wedbush upped their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $276.75.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company's technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.

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