412,754 Shares in Tower Semiconductor Ltd. (NASDAQ:TSEM) Acquired by Shellback Capital LP

Shellback Capital LP acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 412,754 shares of the semiconductor company’s stock, valued at approximately $21,261,000. Tower Semiconductor makes up approximately 1.5% of Shellback Capital LP’s investment portfolio, making the stock its 20th biggest holding. Shellback Capital LP owned approximately 0.37% of Tower Semiconductor at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in 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 purchasing an additional 230 shares in the last quarter. Nebula Research & Development LLC increased its position in Tower Semiconductor by 4.2% during the 4th quarter. Nebula Research & Development LLC now owns 9,636 shares of the semiconductor company’s stock worth $496,000 after purchasing an additional 388 shares in the last quarter. Mariner LLC increased its position in Tower Semiconductor by 6.7% during the 4th quarter. Mariner LLC now owns 8,485 shares of the semiconductor company’s stock worth $437,000 after purchasing an additional 533 shares in the last quarter. Geode Capital Management LLC increased its position in Tower Semiconductor by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company’s stock worth $4,876,000 after purchasing an additional 819 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC increased its position in Tower Semiconductor by 3.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 21,655 shares of the semiconductor company’s stock worth $1,115,000 after purchasing an additional 820 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSEM has been the subject of several recent research reports. Benchmark restated a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Thursday. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Trading Down 0.2%

Shares of NASDAQ TSEM opened at $42.06 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. Tower Semiconductor Ltd. has a 52-week low of $28.64 and a 52-week high of $55.31. The firm has a 50 day moving average price of $36.40 and a two-hundred day moving average price of $43.93. The stock has a market cap of $4.66 billion, a P/E ratio of 22.61 and a beta of 0.75.

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

Tower Semiconductor Company 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.