Systematic Financial Management LP Has $76.42 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Systematic Financial Management LP cut its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 13.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 650,788 shares of the semiconductor company’s stock after selling 102,557 shares during the quarter. Tower Semiconductor comprises approximately 1.8% of Systematic Financial Management LP’s portfolio, making the stock its 3rd biggest position. Systematic Financial Management LP’s holdings in Tower Semiconductor were worth $76,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TSEM. USA Financial Formulas bought a new position in shares of Tower Semiconductor during the fourth quarter valued at $27,000. CIBC Private Wealth Group LLC increased its holdings in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after acquiring an additional 226 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Tower Semiconductor during the third quarter valued at $48,000. Finally, Covestor Ltd bought a new position in shares of Tower Semiconductor during the third quarter valued at $52,000. 70.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays raised their price target on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Wedbush lifted their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Susquehanna lifted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Finally, Benchmark lifted their price objective on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” 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.com, Tower Semiconductor currently has an average rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $283.43 on Friday. Tower Semiconductor Ltd. has a one year low of $37.48 and a one year high of $288.19. The stock has a 50-day moving average of $203.98 and a 200 day moving average of $148.32. The company has a market capitalization of $31.87 billion, a price-to-earnings ratio of 131.83 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63.

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 company had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same period last year, the company earned $0.35 EPS. Tower Semiconductor’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, sell-side analysts forecast that Tower Semiconductor Ltd. will post 2.64 EPS for the current year.

About Tower Semiconductor

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.