Tower Semiconductor Ltd. (NASDAQ:TSEM) Holdings Raised by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,758,574 shares of the semiconductor company’s stock after acquiring an additional 653,191 shares during the quarter. Point72 Asset Management L.P. owned approximately 3.39% of Tower Semiconductor worth $193,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Y.D. More Investments Ltd increased its holdings in shares of Tower Semiconductor by 27.5% during the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after acquiring an additional 187,103 shares during the last quarter. Barclays PLC increased its position in Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after buying an additional 23,385 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of Tower Semiconductor by 292.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company’s stock worth $1,506,000 after acquiring an additional 21,773 shares during the last quarter. Dakota Wealth Management acquired a new position in Tower Semiconductor during the 4th quarter valued at $920,000. Finally, Truist Financial Corp grew its position in Tower Semiconductor by 34.6% in the 4th quarter. Truist Financial Corp now owns 17,330 shares of the semiconductor company’s stock worth $893,000 after purchasing an additional 4,455 shares during the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSEM has been the subject of several research reports. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Thursday, May 1st. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $42.14 on Thursday. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The business has a 50 day simple moving average of $36.28 and a 200 day simple moving average of $43.95. The company has a market capitalization of $4.67 billion, a PE ratio of 22.66 and a beta of 0.75.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results 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 return on equity of 8.11% and a net margin of 14.47%. On average, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

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.