Foundry Partners LLC Takes Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Foundry Partners LLC purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,210 shares of the semiconductor company's stock, valued at approximately $519,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of Tower Semiconductor by 34.4% during 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. Principal Securities Inc. purchased a new stake in shares of Tower Semiconductor during the 4th quarter valued at about $71,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Tower Semiconductor during the 1st quarter valued at about $164,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Tower Semiconductor during the 2nd quarter valued at about $177,000. Finally, ProShare Advisors LLC purchased a new stake in shares of Tower Semiconductor during the 1st quarter valued at about $243,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Price Performance

TSEM stock traded down $0.76 during midday trading on Friday, hitting $40.56. The company's stock had a trading volume of 442,253 shares, compared to its average volume of 373,701. Tower Semiconductor Ltd. has a 12 month low of $21.43 and a 12 month high of $44.58. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 9.20 and a beta of 0.90. The company has a 50 day moving average of $40.59 and a two-hundred day moving average of $36.79.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. The business had revenue of $351.18 million during the quarter, compared to the consensus estimate of $350.00 million. On average, analysts expect that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Tower Semiconductor from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $46.33.

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.