USS Investment Management Ltd Makes New Investment in Tower Semiconductor Ltd. (NASDAQ:TSEM)

USS Investment Management Ltd purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 16,067 shares of the semiconductor company's stock, valued at approximately $828,000.

Several other large investors also recently bought and sold shares of TSEM. Vanguard Group Inc. grew its holdings in Tower Semiconductor by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock worth $205,954,000 after acquiring an additional 42,969 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of Tower Semiconductor by 21.0% during 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. lifted its position in shares of Tower Semiconductor by 251.9% during 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 position in shares of Tower Semiconductor by 16.4% during the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock worth $69,307,000 after purchasing an additional 189,738 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake 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 worth $53,456,000 after acquiring an additional 25,247 shares during the period. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TSEM shares. Benchmark reissued a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday, May 15th. Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Tower Semiconductor presently has an average rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock traded down $1.23 during trading on Friday, hitting $39.26. 42,051 shares of the company's stock traded hands, compared to its average volume of 570,385. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31. The company has a market cap of $4.35 billion, a PE ratio of 21.20 and a beta of 0.75. The firm's fifty day moving average price is $36.92 and its 200 day moving average price is $43.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced 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 14.47% and a return on equity of 8.11%. The firm had revenue of $358.17 million for the quarter, compared to the consensus estimate of $358.09 million. During the same period in the prior year, the business earned $0.40 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share 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.