Baupost Group LLC MA Cuts Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Baupost Group LLC MA cut its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,710,852 shares of the semiconductor company's stock after selling 139,148 shares during the quarter. Tower Semiconductor comprises about 1.8% of Baupost Group LLC MA's portfolio, making the stock its 15th biggest position. Baupost Group LLC MA owned approximately 2.48% of Tower Semiconductor worth $82,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSEM. BNP Paribas Arbitrage SNC acquired a new stake in Tower Semiconductor in the 3rd quarter valued at $40,000. Byrne Asset Management LLC acquired a new stake in shares of Tower Semiconductor in the third quarter worth approximately $27,000. CVA Family Office LLC purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $47,000. Quadrant Capital Group LLC raised its stake in Tower Semiconductor by 34.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 413 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in Tower Semiconductor by 189.8% in the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company's stock valued at $62,000 after purchasing an additional 1,321 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSEM shares. Susquehanna started coverage on shares of Tower Semiconductor in a research note on Thursday, February 29th. They issued a "neutral" rating and a $36.00 price target on the stock. StockNews.com upgraded Tower Semiconductor from a "hold" rating to a "buy" rating in a research report on Monday, March 25th. Finally, TheStreet upgraded Tower Semiconductor from a "c+" rating to a "b-" rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Tower Semiconductor currently has an average rating of "Moderate Buy" and an average target price of $36.33.

Tower Semiconductor Trading Up 2.7 %

TSEM stock traded up $0.87 during trading on Monday, reaching $33.51. 416,206 shares of the stock were exchanged, compared to its average volume of 677,863. The company has a current ratio of 6.17, a quick ratio of 5.15 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 7.18 and a beta of 0.94. The business has a 50 day moving average price of $31.93 and a 200-day moving average price of $28.63. Tower Semiconductor Ltd. has a 1 year low of $21.43 and a 1 year high of $45.87.

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

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