Havemeyer Place LP Buys New Holdings in Tower Semiconductor Ltd. $TSEM

Havemeyer Place LP bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,122 shares of the semiconductor company’s stock, valued at approximately $954,000.

Other hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in Tower Semiconductor during the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC lifted its position in Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Tower Semiconductor during the third quarter worth approximately $48,000. SBI Securities Co. Ltd. lifted its position in Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 403 shares during the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in Tower Semiconductor during the fourth quarter worth approximately $68,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wedbush raised their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Barclays raised 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 report on Friday, February 13th. Benchmark raised their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Susquehanna raised their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tower Semiconductor has an average rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Price Performance

Shares of TSEM opened at $235.48 on Monday. Tower Semiconductor Ltd. has a 12 month low of $37.48 and a 12 month high of $302.86. The firm’s 50 day moving average is $226.77 and its 200-day moving average is $161.00. The stock has a market capitalization of $26.48 billion, a PE ratio of 109.53 and a beta of 0.87. 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 (NASDAQ:TSEM) last announced its earnings results 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 net margin of 15.13% and a return on equity of 8.54%. The company had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. During the same period last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts forecast that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Tower Semiconductor Company 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.