Telligent Fund LP Takes $1.29 Million Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Telligent Fund LP purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the semiconductor company's stock, valued at approximately $1,288,000. Tower Semiconductor makes up 1.2% of Telligent Fund LP's portfolio, making the stock its 24th biggest holding.

Several other hedge funds have also bought and sold shares of the business. Point72 Asset Management L.P. lifted its holdings in shares of Tower Semiconductor by 203.8% during 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 purchasing an additional 2,083,262 shares in the last quarter. Summit Partners Public Asset Management LLC boosted its position in Tower Semiconductor by 1,146.9% in 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. Scopia Capital Management LP bought a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $13,926,000. Assenagon Asset Management S.A. purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $11,094,000. Finally, Y.D. More Investments Ltd increased its position in shares of 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 valued at $44,883,000 after purchasing an additional 187,103 shares during the last quarter. Institutional investors own 70.51% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TSEM. StockNews.com lowered shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Wedbush restated an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Monday, February 3rd. Susquehanna raised their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, November 14th. Craig Hallum boosted their price target on Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Finally, Benchmark reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research note on Thursday, November 14th. One 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, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.75.

Tower Semiconductor Price Performance

NASDAQ:TSEM traded down $2.09 on Monday, reaching $46.55. 1,543,430 shares of the company's stock traded hands, compared to its average volume of 832,839. The firm has a market cap of $5.16 billion, a PE ratio of 25.28 and a beta of 0.88. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $50.76 and a 200-day simple moving average of $45.71. Tower Semiconductor Ltd. has a 12 month low of $28.37 and a 12 month high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The semiconductor company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. Equities research analysts forecast that Tower Semiconductor Ltd. will post 1.81 earnings per share for the current year.

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.