Systematic Financial Management LP Acquires 85,403 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Systematic Financial Management LP raised its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 761,064 shares of the semiconductor company’s stock after purchasing an additional 85,403 shares during the quarter. Systematic Financial Management LP owned approximately 0.69% of Tower Semiconductor worth $33,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSEM. Transcendent Capital Group LLC acquired a new stake in shares of Tower Semiconductor in the 3rd quarter valued at $27,000. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor during the third quarter worth $38,000. Blue Trust Inc. grew its stake in shares of Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC grew its stake in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares during the period. Finally, Scientech Research LLC acquired a new stake in shares of Tower Semiconductor during the second quarter worth $200,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSEM shares. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Craig Hallum lifted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Susquehanna lifted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Tower Semiconductor presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $49.59 on Thursday. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 26.81 and a beta of 0.92. The stock’s 50-day moving average is $45.19 and its 200-day moving average is $41.80. Tower Semiconductor Ltd. has a one year low of $27.15 and a one year high of $50.25. 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) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Tower Semiconductor’s revenue was up 3.4% on a year-over-year basis. Equities analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

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.