Quantbot Technologies LP Has $613,000 Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Quantbot Technologies LP grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEMFree Report) by 290.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 24,958 shares of the semiconductor company’s stock after buying an additional 18,574 shares during the period. Quantbot Technologies LP’s holdings in Tower Semiconductor were worth $613,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TSEM. Byrne Asset Management LLC acquired a new position in shares of Tower Semiconductor during the third quarter valued at about $27,000. BNP Paribas Arbitrage SNC bought a new position in Tower Semiconductor during the third quarter worth about $40,000. EverSource Wealth Advisors LLC lifted its stake in Tower Semiconductor by 336.4% during the third quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $52,000 after purchasing an additional 1,635 shares during the period. Ulland Investment Advisors LLC bought a new position in Tower Semiconductor during the third quarter worth about $56,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Tower Semiconductor during the third quarter worth about $130,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Benchmark started coverage on shares of Tower Semiconductor in a research note on Wednesday, October 25th. They issued a “buy” rating and a $35.00 target price for the company. StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Tuesday, November 21st.

Read Our Latest Stock Report on Tower Semiconductor

Tower Semiconductor Price Performance

TSEM opened at $28.90 on Wednesday. The company has a fifty day moving average price of $29.41 and a two-hundred day moving average price of $28.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 5.47 and a current ratio of 6.65. Tower Semiconductor Ltd. has a 52 week low of $21.43 and a 52 week high of $45.87. The firm has a market capitalization of $3.16 billion, a PE ratio of 5.87 and a beta of 0.94.

Tower Semiconductor (NASDAQ:TSEMGet Free Report) last announced its quarterly earnings results on Monday, November 13th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. Tower Semiconductor had a net margin of 37.17% and a return on equity of 10.85%. The company had revenue of $358.17 million during the quarter, compared to analyst estimates of $359.17 million. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.93 earnings per share for the current year.

Tower Semiconductor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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