Senvest Management LLC Boosts Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Senvest Management LLC boosted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 58.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,174,598 shares of the semiconductor company's stock after buying an additional 2,657,777 shares during the period. Tower Semiconductor makes up approximately 8.4% of Senvest Management LLC's portfolio, making the stock its 2nd biggest position. Senvest Management LLC owned about 6.56% of Tower Semiconductor worth $218,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSEM. Graham Capital Management L.P. increased its stake in Tower Semiconductor by 487.1% during the third quarter. Graham Capital Management L.P. now owns 39,550 shares of the semiconductor company's stock worth $971,000 after purchasing an additional 32,813 shares during the period. Wellington Management Group LLP increased its stake in Tower Semiconductor by 5,887.4% during the third quarter. Wellington Management Group LLP now owns 499,405 shares of the semiconductor company's stock worth $12,265,000 after purchasing an additional 491,064 shares during the period. ARK Investment Management LLC increased its stake in Tower Semiconductor by 29.7% during the third quarter. ARK Investment Management LLC now owns 58,944 shares of the semiconductor company's stock worth $1,448,000 after purchasing an additional 13,492 shares during the period. Trexquant Investment LP increased its stake in Tower Semiconductor by 289.5% during the third quarter. Trexquant Investment LP now owns 139,629 shares of the semiconductor company's stock worth $3,429,000 after purchasing an additional 103,777 shares during the period. Finally, Phoenix Holdings Ltd. increased its stake in Tower Semiconductor by 7.0% during the third quarter. Phoenix Holdings Ltd. now owns 3,668,022 shares of the semiconductor company's stock worth $90,089,000 after purchasing an additional 239,518 shares during the period. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Susquehanna assumed coverage on Tower Semiconductor in a research report on Thursday, February 29th. They set a "neutral" rating and a $36.00 price objective for the company. TheStreet raised Tower Semiconductor from a "c+" rating to a "b-" rating in a research report on Friday, March 8th. Finally, StockNews.com raised Tower Semiconductor from a "hold" rating to a "buy" rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $36.33.

Tower Semiconductor Stock Down 0.6 %

TSEM traded down $0.21 on Friday, reaching $32.64. The company's stock had a trading volume of 344,941 shares, compared to its average volume of 493,012. The stock has a 50 day moving average of $31.93 and a two-hundred day moving average of $28.59. The company has a quick ratio of 5.15, a current ratio of 6.17 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of 7.02 and a beta of 0.94. Tower Semiconductor Ltd. has a fifty-two week low of $21.43 and a fifty-two week high of $45.87.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.02. The firm had revenue of $351.71 million during the quarter, compared to the consensus estimate of $350.00 million. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. As a group, analysts forecast that Tower Semiconductor Ltd. will post 1.52 EPS for the current fiscal 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.