Situational Awareness LP Purchases 252,404 Shares of Tower Semiconductor Ltd. $TSEM

Situational Awareness LP raised its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 53.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 723,004 shares of the semiconductor company’s stock after acquiring an additional 252,404 shares during the period. Tower Semiconductor makes up about 1.5% of Situational Awareness LP’s investment portfolio, making the stock its 13th largest position. Situational Awareness LP’s holdings in Tower Semiconductor were worth $84,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TSEM. Covestor Ltd boosted its stake in shares of Tower Semiconductor by 10.8% during the fourth quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 77 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Tower Semiconductor by 2.6% during the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 127 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of Tower Semiconductor by 2.6% during the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 131 shares during the period. Mariner LLC boosted its stake in shares of Tower Semiconductor by 2.4% during the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after purchasing an additional 207 shares during the period. Finally, Westside Investment Management Inc. boosted its stake 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 purchasing an additional 226 shares during the period. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 9.9%

NASDAQ:TSEM opened at $235.48 on Friday. The firm has a market cap of $26.48 billion, a PE ratio of 109.53 and a beta of 0.87. The company has a 50-day moving average of $226.77 and a 200 day moving average of $160.54. Tower Semiconductor Ltd. has a 1-year low of $37.48 and a 1-year high of $302.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

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

Analyst Upgrades and Downgrades

TSEM has been the subject of a number of recent analyst reports. Benchmark boosted their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wedbush upped their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Susquehanna upped their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Finally, Barclays upped their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research note 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. According to data from MarketBeat.com, Tower Semiconductor has a consensus rating of “Hold” and a consensus target price of $276.75.

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.