Fox Run Management L.L.C. Buys Shares of 11,192 Tower Semiconductor Ltd. $TSEM

Fox Run Management L.L.C. bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, Holdings Channel reports. The fund bought 11,192 shares of the semiconductor company’s stock, valued at approximately $1,314,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Covestor Ltd lifted its stake in Tower Semiconductor by 10.8% in the fourth quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 77 shares during the period. Mackenzie Financial Corp lifted its stake in Tower Semiconductor by 2.6% in the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after buying an additional 127 shares during the period. Evergreen Capital Management LLC lifted its stake in Tower Semiconductor by 2.6% in the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after buying an additional 131 shares during the period. Mariner LLC lifted its stake in Tower Semiconductor by 2.4% in the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after buying an additional 207 shares during the period. Finally, USA Financial Formulas acquired a new position in Tower Semiconductor in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 5.8%

Shares of Tower Semiconductor stock opened at $228.08 on Wednesday. Tower Semiconductor Ltd. has a 1 year low of $37.48 and a 1 year high of $302.86. The business has a 50-day moving average of $229.24 and a two-hundred day moving average of $162.93. The company has a market capitalization of $25.65 billion, a P/E ratio of 106.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The company had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same period in the prior year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Susquehanna increased their target price on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Benchmark increased their target price on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wedbush increased their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Barclays increased their price target on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $276.75.

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.