Polymer Capital Management US LLC Takes Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Polymer Capital Management US LLC purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 86,900 shares of the semiconductor company's stock, valued at approximately $4,476,000. Tower Semiconductor accounts for approximately 1.2% of Polymer Capital Management US LLC's holdings, making the stock its 20th biggest holding. Polymer Capital Management US LLC owned 0.08% of Tower Semiconductor at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Tower Semiconductor by 1.1% during 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. William Blair Investment Management LLC increased its position in Tower Semiconductor by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock worth $53,456,000 after acquiring an additional 25,247 shares during the period. Y.D. More Investments Ltd raised 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 valued at $44,883,000 after buying an additional 187,103 shares in the last quarter. Neumeier Poma Investment Counsel LLC bought a new stake in Tower Semiconductor during the fourth quarter worth about $33,034,000. Finally, American Century Companies Inc. acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth approximately $20,015,000. Institutional investors own 70.51% of the company's stock.

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Tower Semiconductor Trading Up 0.7 %

Tower Semiconductor stock traded up $0.23 during trading hours on Friday, hitting $33.92. The stock had a trading volume of 483,979 shares, compared to its average volume of 558,857. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 18.24 and a beta of 0.84. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The business's 50 day simple moving average is $40.13 and its 200-day simple moving average is $45.20. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31.

Wall Street Analyst Weigh In

TSEM has been the subject of several recent analyst reports. Wedbush restated an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a report 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.