Katamaran Capital LLP Has $3.14 Million Stock Position in Tower Semiconductor Ltd. $TSEM

Katamaran Capital LLP trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 63.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,706 shares of the semiconductor company’s stock after selling 46,929 shares during the period. Tower Semiconductor makes up about 2.4% of Katamaran Capital LLP’s holdings, making the stock its 18th biggest position. Katamaran Capital LLP’s holdings in Tower Semiconductor were worth $3,136,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Tower Semiconductor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock worth $507,317,000 after purchasing an additional 53,112 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after purchasing an additional 25,000 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock worth $168,591,000 after purchasing an additional 369,600 shares in the last quarter. Meitav Investment House Ltd. lifted its position in shares of Tower Semiconductor by 1.2% in the third quarter. Meitav Investment House Ltd. now owns 2,268,503 shares of the semiconductor company’s stock worth $162,870,000 after purchasing an additional 25,989 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Tower Semiconductor by 0.7% in the third quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after purchasing an additional 15,461 shares in the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

TSEM opened at $211.02 on Monday. The company has a market cap of $23.73 billion, a PE ratio of 109.34 and a beta of 0.85. The stock has a 50-day moving average of $174.64 and a 200-day moving average of $135.08. Tower Semiconductor Ltd. has a 52-week low of $37.33 and a 52-week high of $232.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The business had revenue of $440.21 million during the quarter, compared to analysts’ expectations of $439.81 million. During the same quarter in the previous year, the firm earned $0.49 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts forecast that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Susquehanna reissued a “positive” rating and issued a $180.00 price target on shares of Tower Semiconductor in a research report on Thursday, February 12th. Benchmark increased their price target on shares of Tower Semiconductor from $165.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Wedbush upped their target price on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Finally, Barclays upped their target price on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and an average target price of $173.00.

Tower Semiconductor Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.