Polar Capital Holdings Plc Invests $14.83 Million in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Polar Capital Holdings Plc purchased a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 287,818 shares of the semiconductor company’s stock, valued at approximately $14,826,000.

Several other institutional investors also recently modified their holdings of TSEM. R Squared Ltd acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth approximately $61,000. Blue Trust Inc. grew its position in shares of Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after buying an additional 230 shares during the period. Crews Bank & Trust acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth approximately $134,000. Caption Management LLC acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth approximately $155,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth approximately $203,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 0.2%

Tower Semiconductor stock opened at $42.06 on Friday. The company’s 50 day simple moving average is $36.40 and its 200 day simple moving average is $43.93. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $55.31. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 22.61 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The firm had revenue of $358.17 million for the quarter, compared to the consensus estimate of $358.09 million. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reissued a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.