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

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

Several other hedge funds have also made changes to their positions in TSEM. Vanguard Group Inc. lifted its stake in Tower Semiconductor by 1.1% during the 4th 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. lifted its position in shares of Tower Semiconductor by 251.9% during the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock worth $90,721,000 after purchasing an additional 1,260,683 shares in the last quarter. Menora Mivtachim Holdings LTD. boosted its stake in shares of 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 purchasing an additional 189,738 shares during the period. William Blair Investment Management LLC grew its holdings in shares of 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 purchasing an additional 25,247 shares in the last quarter. Finally, Y.D. More Investments Ltd lifted its holdings in Tower Semiconductor by 27.5% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 70.51% of the company's stock.

Tower Semiconductor Stock Down 0.6%

TSEM stock traded down $0.23 during midday trading on Monday, reaching $40.88. 131,471 shares of the company were exchanged, compared to its average volume of 570,139. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 22.02 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $55.31. The stock's 50-day simple moving average is $36.49 and its 200 day simple moving average is $43.92.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released 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). 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 during the quarter, compared to analyst estimates of $358.09 million. During the same quarter in the prior year, the company earned $0.40 EPS. The business's revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wedbush reiterated an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reiterated a "buy" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company 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.