LMR Partners LLP Raises Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

LMR Partners LLP lifted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 477.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,289 shares of the semiconductor company's stock after purchasing an additional 25,044 shares during the quarter. LMR Partners LLP's holdings in Tower Semiconductor were worth $1,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Y.D. More Investments Ltd lifted 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 worth $44,883,000 after buying an additional 187,103 shares during the period. Barclays PLC raised its holdings in Tower Semiconductor by 4,081.2% in the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock worth $1,060,000 after buying an additional 23,385 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Tower Semiconductor by 292.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company's stock worth $1,506,000 after acquiring an additional 21,773 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Tower Semiconductor in the fourth quarter worth $920,000. Finally, Truist Financial Corp lifted its position in Tower Semiconductor by 34.6% during the fourth quarter. Truist Financial Corp now owns 17,330 shares of the semiconductor company's stock valued at $893,000 after purchasing an additional 4,455 shares during the period. Hedge funds and other institutional investors own 70.51% of the company's stock.

Tower Semiconductor Trading Down 2.3%

Shares of NASDAQ TSEM traded down $0.95 during midday trading on Friday, hitting $41.11. The company's stock had a trading volume of 533,531 shares, compared to its average volume of 570,709. The firm has a market cap of $4.56 billion, a P/E ratio of 22.10 and a beta of 0.75. The business's 50 day moving average is $36.40 and its two-hundred day moving average is $43.93. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $358.17 million for 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%. As a group, equities research analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Analysts Set New Price Targets

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