Tower Semiconductor Ltd. $TSEM Position Lowered by Systematic Financial Management LP

Systematic Financial Management LP decreased its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEMFree Report) by 15.7% in the first quarter, Holdings Channel.com reports. The fund owned 548,860 shares of the semiconductor company’s stock after selling 101,928 shares during the period. Tower Semiconductor comprises about 2.2% of Systematic Financial Management LP’s holdings, making the stock its biggest position. Systematic Financial Management LP’s holdings in Tower Semiconductor were worth $96,314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi increased its holdings in Tower Semiconductor by 86.8% in the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Tower Semiconductor by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 3,954 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tower Semiconductor by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after purchasing an additional 662 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Tower Semiconductor during the second quarter valued at about $438,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Tower Semiconductor during the second quarter valued at about $5,809,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

TSEM stock opened at $260.42 on Friday. Tower Semiconductor Ltd. has a 52 week low of $43.12 and a 52 week high of $319.94. The firm has a market capitalization of $29.28 billion, a P/E ratio of 121.13 and a beta of 0.87. The company has a fifty day simple moving average of $255.61 and a two-hundred day simple moving average of $193.69. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSEM. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Wedbush raised their price target on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Benchmark reaffirmed a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Finally, Susquehanna upped their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.75.

Check Out Our Latest Stock Report on Tower Semiconductor

Tower Semiconductor Profile

(Free Report)

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.

Further Reading

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

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