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

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

Several other hedge funds and other institutional investors have also bought and sold shares of TSEM. Squarepoint Ops LLC acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $247,000. Truist Financial Corp increased its stake in Tower Semiconductor by 34.6% during the 4th quarter. Truist Financial Corp now owns 17,330 shares of the semiconductor company's stock worth $893,000 after acquiring an additional 4,455 shares during the period. Cetera Investment Advisers acquired a new position in Tower Semiconductor in the 4th quarter valued at $249,000. Fifth Third Bancorp lifted its position in shares of Tower Semiconductor by 18.0% during the 1st quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company's stock valued at $352,000 after acquiring an additional 1,509 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Tower Semiconductor by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company's stock worth $4,876,000 after purchasing an additional 819 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a "buy" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tower Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Tower Semiconductor Price Performance

NASDAQ:TSEM traded down $0.87 during mid-day trading on Tuesday, reaching $42.48. The stock had a trading volume of 471,374 shares, compared to its average volume of 588,045. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $55.31. The stock has a market capitalization of $4.71 billion, a PE ratio of 23.52 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 5.82. The stock has a 50-day simple moving average of $39.72 and a two-hundred day simple moving average of $42.65.

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

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.