Point72 Asset Management L.P. Has $193.60 Million Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Point72 Asset Management L.P. boosted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,758,574 shares of the semiconductor company's stock after acquiring an additional 653,191 shares during the quarter. Point72 Asset Management L.P. owned 3.39% of Tower Semiconductor worth $193,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Tower Semiconductor by 1.1% in the fourth 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. Invesco Ltd. increased its holdings in Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock valued at $90,721,000 after buying an additional 1,260,683 shares during the last quarter. Menora Mivtachim Holdings LTD. increased its holdings in Tower Semiconductor by 16.4% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock valued at $69,307,000 after buying an additional 189,738 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Tower Semiconductor by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock valued at $53,456,000 after buying an additional 25,247 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company's stock valued at $44,883,000 after buying an additional 187,103 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Down 2.3%

Tower Semiconductor stock traded down $0.95 during mid-day trading on Friday, hitting $41.11. The company's stock had a trading volume of 533,531 shares, compared to its average volume of 571,866. The firm's 50 day moving average is $36.49 and its 200 day moving average is $43.91. The company has a market cap of $4.56 billion, a PE ratio of 22.10 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. 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 announced its quarterly earnings data 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). The business had revenue of $358.17 million during the quarter, compared to analysts' expectations of $358.09 million. Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The firm's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. On average, analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Analyst Ratings Changes

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

About Tower Semiconductor

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.