Systematic Financial Management LP Acquires 13,515 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Systematic Financial Management LP lifted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 774,579 shares of the semiconductor company's stock after purchasing an additional 13,515 shares during the period. Tower Semiconductor makes up about 1.0% of Systematic Financial Management LP's holdings, making the stock its 22nd biggest position. Systematic Financial Management LP owned 0.70% of Tower Semiconductor worth $39,905,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Shellback Capital LP purchased a new position in Tower Semiconductor in the 4th quarter worth about $21,261,000. Point72 Asset Management L.P. boosted its holdings in shares of Tower Semiconductor by 21.0% in the fourth quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock worth $193,604,000 after buying an additional 653,191 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Tower Semiconductor in the fourth quarter worth approximately $17,056,000. Polar Capital Holdings Plc purchased a new position in shares of Tower Semiconductor in the fourth quarter worth approximately $14,826,000. Finally, LMR Partners LLP raised its holdings in shares of Tower Semiconductor by 477.5% during the fourth quarter. LMR Partners LLP now owns 30,289 shares of the semiconductor company's stock valued at $1,560,000 after acquiring an additional 25,044 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Up 0.1%

TSEM traded up $0.04 on Tuesday, reaching $41.19. 564,075 shares of the company traded hands, compared to its average volume of 572,395. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 22.15 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The stock's 50 day moving average price is $36.54 and its 200-day moving average price is $43.92. 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 earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. The company had revenue of $358.17 million for the quarter, compared to analyst estimates of $358.09 million. During the same period last year, the business earned $0.40 EPS. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TSEM shares. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark restated a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

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.