Havemeyer Place LP Invests $954,000 in Tower Semiconductor Ltd. $TSEM

Havemeyer Place LP acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,122 shares of the semiconductor company’s stock, valued at approximately $954,000.

A number of other hedge funds have also added to or reduced their stakes in TSEM. Goldman Sachs Group Inc. increased its stake in Tower Semiconductor by 214.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock valued at $259,083,000 after acquiring an additional 1,505,421 shares during the last quarter. WT Asset Management Ltd bought a new position in Tower Semiconductor in the fourth quarter valued at approximately $78,967,000. Park West Asset Management LLC bought a new position in Tower Semiconductor in the third quarter valued at approximately $42,657,000. Balyasny Asset Management L.P. increased its stake in Tower Semiconductor by 565.6% in the third quarter. Balyasny Asset Management L.P. now owns 444,800 shares of the semiconductor company’s stock valued at $32,159,000 after acquiring an additional 377,975 shares during the last quarter. Finally, Norges Bank bought a new position in Tower Semiconductor in the fourth quarter valued at approximately $43,224,000. 70.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSEM has been the topic of a number of recent analyst reports. Benchmark lifted their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Barclays lifted their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Wedbush lifted their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Susquehanna lifted their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $235.48 on Monday. The firm’s fifty day moving average price is $226.77 and its two-hundred day moving average price is $161.00. The stock has a market cap of $26.48 billion, a PE ratio of 109.53 and a beta of 0.87. Tower Semiconductor Ltd. has a fifty-two week low of $37.48 and a fifty-two week high of $302.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, equities analysts expect that Tower Semiconductor Ltd. will post 2.84 EPS for the current fiscal year.

About Tower Semiconductor

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.