Alta Park Capital LP Makes New $19.47 Million Investment in Tower Semiconductor Ltd. $TSEM

Alta Park Capital LP bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 165,804 shares of the semiconductor company’s stock, valued at approximately $19,469,000. Tower Semiconductor accounts for 2.3% of Alta Park Capital LP’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its position in shares of Tower Semiconductor by 4.6% during the fourth quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock worth $118,084,000 after acquiring an additional 44,401 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Tower Semiconductor by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after acquiring an additional 25,000 shares in the last quarter. Argent Trust Co bought a new stake in shares of Tower Semiconductor during the third quarter worth $287,000. Granahan Investment Management LLC increased its position in shares of Tower Semiconductor by 42.6% during the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company’s stock worth $12,883,000 after acquiring an additional 53,208 shares in the last quarter. Finally, Rockingstone Advisors LLC bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $5,296,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TSEM shares. Benchmark increased their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wedbush increased their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Susquehanna increased their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tower Semiconductor has a consensus rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Down 0.5%

Tower Semiconductor stock opened at $267.13 on Thursday. The company has a market cap of $30.04 billion, a P/E ratio of 124.25 and a beta of 0.87. Tower Semiconductor Ltd. has a 1-year low of $38.90 and a 1-year high of $302.86. The company has a fifty day simple moving average of $238.65 and a 200 day simple moving average of $169.91. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04.

Tower Semiconductor (NASDAQ:TSEM) last released its 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 business had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. Tower Semiconductor’s revenue was up 15.5% on a year-over-year basis. Research analysts anticipate that Tower Semiconductor Ltd. will post 2.84 earnings per share 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.