Polymer Capital Management HK LTD Buys New Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Polymer Capital Management HK LTD purchased a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 9,116 shares of the semiconductor company's stock, valued at approximately $470,000.

Other institutional investors have also recently made changes to their positions in the company. Neumeier Poma Investment Counsel LLC bought a new stake in Tower Semiconductor during the fourth quarter valued at $33,034,000. American Century Companies Inc. bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at about $20,015,000. Norges Bank purchased a new position in shares of Tower Semiconductor during the fourth quarter worth about $11,126,000. Y.D. More Investments Ltd increased its position in shares of 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 purchasing an additional 187,103 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in Tower Semiconductor in the fourth quarter valued at approximately $2,914,000. Institutional investors own 70.51% of the company's stock.

Tower Semiconductor Price Performance

Shares of TSEM stock traded up $0.23 during trading hours on Friday, hitting $33.92. 483,979 shares of the company's stock were exchanged, compared to its average volume of 558,857. The company has a market capitalization of $3.76 billion, a PE ratio of 18.24 and a beta of 0.84. 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. The business's 50 day simple moving average is $40.13 and its 200-day simple moving average is $45.20.

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Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush reissued an "outperform" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reissued a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Company 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.