Polar Capital Holdings Plc Invests $14.83 Million in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Polar Capital Holdings Plc acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 287,818 shares of the semiconductor company’s stock, valued at approximately $14,826,000. Polar Capital Holdings Plc owned 0.26% of Tower Semiconductor as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth about $61,000. Blue Trust Inc. increased its position in shares of Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth about $134,000. Caption Management LLC acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth about $155,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth about $203,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Trading Down 0.2%

TSEM opened at $42.06 on Friday. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $4.66 billion, a PE ratio of 22.61 and a beta of 0.75. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $55.31. The firm has a 50-day moving average price of $36.40 and a two-hundred day moving average price of $43.93.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $358.17 million during the quarter, compared to analyst estimates of $358.09 million. Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TSEM shares. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.00.

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.