Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Bought by Systematic Financial Management LP

Systematic Financial Management LP grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 761,064 shares of the semiconductor company's stock after acquiring an additional 85,403 shares during the quarter. Systematic Financial Management LP owned about 0.69% of Tower Semiconductor worth $33,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSEM. Point72 Asset Management L.P. boosted its position in Tower Semiconductor by 203.8% in the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company's stock valued at $137,444,000 after buying an additional 2,083,262 shares during the last quarter. Summit Partners Public Asset Management LLC raised its holdings in shares of Tower Semiconductor by 1,146.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company's stock worth $66,227,000 after purchasing an additional 1,376,315 shares during the last quarter. Y.D. More Investments Ltd lifted its position in Tower Semiconductor by 9,622.0% during the second quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company's stock valued at $35,952,000 after purchasing an additional 902,546 shares during the period. Meitav Investment House Ltd. boosted its holdings in Tower Semiconductor by 25.6% in the second quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company's stock valued at $95,686,000 after purchasing an additional 495,380 shares during the last quarter. Finally, Scopia Capital Management LP purchased a new stake in Tower Semiconductor in the third quarter valued at $13,926,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Price Performance

NASDAQ TSEM traded up $0.02 on Thursday, hitting $49.61. The company had a trading volume of 314,853 shares, compared to its average volume of 523,330. The company's fifty day moving average price is $45.19 and its 200-day moving average price is $41.80. Tower Semiconductor Ltd. has a 12-month low of $27.38 and a 12-month high of $50.66. The company has a market capitalization of $5.50 billion, a PE ratio of 26.81 and a beta of 0.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.45 by $0.12. The firm had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. As a group, analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSEM. Susquehanna boosted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Craig Hallum raised their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Benchmark reissued a "buy" rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $58.33.

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.