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

Shellback Capital LP bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 412,754 shares of the semiconductor company’s stock, valued at approximately $21,261,000. Tower Semiconductor makes up about 1.5% of Shellback Capital LP’s portfolio, making the stock its 20th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Tower Semiconductor by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company’s stock valued at $205,954,000 after buying an additional 42,969 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Tower Semiconductor by 21.0% in the fourth quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company’s stock valued at $193,604,000 after buying an additional 653,191 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company’s stock valued at $90,721,000 after buying an additional 1,260,683 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its stake in shares of Tower Semiconductor by 16.4% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company’s stock valued at $69,307,000 after buying an additional 189,738 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Tower Semiconductor by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company’s stock valued at $53,456,000 after buying an additional 25,247 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSEM has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $42.06 on Friday. The firm has a 50-day moving average of $36.40 and a 200-day moving average of $43.93. The company has a market cap of $4.66 billion, a P/E ratio of 22.61 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $358.17 million during the quarter, compared to analysts’ expectations of $358.09 million. Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. Equities research 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.