Tower Semiconductor Ltd. $TSEM Shares Purchased by Situational Awareness LP

Situational Awareness LP grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 53.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 723,004 shares of the semiconductor company’s stock after purchasing an additional 252,404 shares during the quarter. Tower Semiconductor accounts for about 1.5% of Situational Awareness LP’s holdings, making the stock its 13th biggest holding. Situational Awareness LP’s holdings in Tower Semiconductor were worth $84,895,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TSEM. Goldman Sachs Group Inc. increased its holdings in shares of Tower Semiconductor by 214.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock valued at $259,083,000 after acquiring an additional 1,505,421 shares in the last quarter. WT Asset Management Ltd acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at about $78,967,000. Park West Asset Management LLC acquired a new position in shares of Tower Semiconductor during the third quarter valued at about $42,657,000. Balyasny Asset Management L.P. increased its holdings in shares of Tower Semiconductor by 565.6% during the third quarter. Balyasny Asset Management L.P. now owns 444,800 shares of the semiconductor company’s stock valued at $32,159,000 after acquiring an additional 377,975 shares in the last quarter. Finally, Norges Bank acquired a new position in Tower Semiconductor in the 4th quarter worth approximately $43,224,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Trading Down 9.9%

Tower Semiconductor stock opened at $235.48 on Friday. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. Tower Semiconductor Ltd. has a 12 month low of $37.48 and a 12 month high of $302.86. The stock’s 50 day simple moving average is $226.77 and its two-hundred day simple moving average is $160.54. The firm has a market cap of $26.48 billion, a PE ratio of 109.53 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The business had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. During the same quarter in the prior year, the firm posted $0.35 EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Analysts anticipate that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TSEM shares. Barclays increased their price target on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Susquehanna increased their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Benchmark increased their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wedbush increased their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $276.75.

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.