Artemis Investment Management LLP Has $5.23 Million Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Artemis Investment Management LLP reduced its position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 26.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 146,667 shares of the semiconductor company's stock after selling 52,815 shares during the period. Artemis Investment Management LLP owned about 0.13% of Tower Semiconductor worth $5,230,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Tower Semiconductor by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock valued at $205,954,000 after purchasing an additional 42,969 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Tower Semiconductor by 21.0% in the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock valued at $193,604,000 after acquiring an additional 653,191 shares during the period. Invesco Ltd. raised its holdings in Tower Semiconductor by 251.9% in the 4th quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock valued at $90,721,000 after acquiring an additional 1,260,683 shares during the period. Menora Mivtachim Holdings LTD. raised its holdings in Tower Semiconductor by 16.4% in the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock valued at $69,307,000 after acquiring an additional 189,738 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Tower Semiconductor by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock valued at $53,456,000 after acquiring an additional 25,247 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Benchmark reaffirmed a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Stock Performance

Shares of TSEM traded down $0.37 during mid-day trading on Friday, hitting $43.43. 651,325 shares of the company's stock were exchanged, compared to its average volume of 588,621. The company has a quick ratio of 5.82, a current ratio of 6.93 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 23.99 and a beta of 0.77. The stock's 50-day simple moving average is $39.56 and its 200-day simple moving average is $42.75. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The firm had revenue of $358.17 million for the quarter, compared to the consensus estimate of $358.09 million. Tower Semiconductor had a return on equity of 7.73% and a net margin of 13.86%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities research analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Tower Semiconductor 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.