Engineers Gate Manager LP lifted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 37.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 47,104 shares of the semiconductor company’s stock after acquiring an additional 12,830 shares during the quarter. Engineers Gate Manager LP’s holdings in Tower Semiconductor were worth $1,605,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in Tower Semiconductor by 9.2% during the 2nd quarter. Wells Fargo & Company MN now owns 88,285 shares of the semiconductor company’s stock worth $2,106,000 after buying an additional 7,445 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $1,202,000. Vanguard Group Inc. increased its position in shares of Tower Semiconductor by 22.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock valued at $43,902,000 after purchasing an additional 331,647 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Tower Semiconductor by 50.6% in the 4th quarter. Acadian Asset Management LLC now owns 688,437 shares of the semiconductor company’s stock valued at $23,463,000 after purchasing an additional 231,396 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Tower Semiconductor by 17.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 20,500 shares of the semiconductor company’s stock valued at $630,000 after purchasing an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 43.82% of the company’s stock.

Tower Semiconductor Ltd. (NASDAQ TSEM) opened at $31.96 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.44 and a quick ratio of 2.85. The company has a market cap of $2,940.00, a price-to-earnings ratio of 17.56, a P/E/G ratio of 0.85 and a beta of 0.92. Tower Semiconductor Ltd. has a 52-week low of $20.60 and a 52-week high of $36.69.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Tuesday, November 7th. The semiconductor company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.07. The firm had revenue of $354.56 million for the quarter, compared to the consensus estimate of $355.45 million. Tower Semiconductor had a net margin of 14.53% and a return on equity of 27.82%. research analysts predict that Tower Semiconductor Ltd. will post 2.02 earnings per share for the current fiscal year.

A number of brokerages have commented on TSEM. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. BidaskClub raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Drexel Hamilton reaffirmed a “buy” rating and issued a $46.00 target price on shares of Tower Semiconductor in a research report on Wednesday, November 29th. Needham & Company LLC increased their target price on shares of Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 30th. Finally, Credit Suisse Group increased their target price on shares of Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $43.75.

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Tower Semiconductor Company Profile

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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