Systematic Financial Management LP Acquires 4,944 Shares of Tower Semiconductor Ltd. $TSEM

Systematic Financial Management LP grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 780,183 shares of the semiconductor company’s stock after buying an additional 4,944 shares during the period. Systematic Financial Management LP’s holdings in Tower Semiconductor were worth $33,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in TSEM. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tower Semiconductor during the 1st quarter valued at $39,000. Blue Trust Inc. grew its holdings in Tower Semiconductor by 14.8% during the 2nd quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock valued at $76,000 after buying an additional 227 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Tower Semiconductor during the first quarter valued at about $75,000. PharVision Advisers LLC purchased a new stake in shares of Tower Semiconductor in the second quarter worth about $207,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Tower Semiconductor in the second quarter worth about $228,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on TSEM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday. Susquehanna boosted their price target on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Wedbush upped their price target on shares of Tower Semiconductor from $85.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, November 11th. Benchmark increased their price objective on Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Barclays boosted their target price on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.25.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $116.46 on Wednesday. The firm has a market capitalization of $12.91 billion, a price-to-earnings ratio of 66.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.57 and a quick ratio of 5.50. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $119.82. The company’s fifty day moving average price is $84.59 and its 200-day moving average price is $61.64.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Monday, November 10th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $395.67 million during the quarter, compared to analyst estimates of $394.98 million. Tower Semiconductor had a return on equity of 7.37% and a net margin of 13.20%.The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

About Tower Semiconductor

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.