Telligent Fund LP Invests $1.29 Million in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Telligent Fund LP acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 25,000 shares of the semiconductor company’s stock, valued at approximately $1,288,000. Tower Semiconductor accounts for about 1.2% of Telligent Fund LP’s holdings, making the stock its 24th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in TSEM. Transcendent Capital Group LLC acquired a new position in shares of Tower Semiconductor in the third quarter worth about $27,000. USA Financial Formulas acquired a new position in shares of Tower Semiconductor in the third quarter worth about $38,000. R Squared Ltd purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth about $61,000. Blue Trust Inc. increased its stake in shares of Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $49.71 on Friday. The firm has a 50 day simple moving average of $50.68 and a 200-day simple moving average of $45.58. Tower Semiconductor Ltd. has a 1-year low of $28.37 and a 1-year high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 26.87 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. During the same quarter in the prior year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TSEM shares. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Monday. Susquehanna upped their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Craig Hallum upped their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research note on Thursday, November 14th. Finally, StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.75.

Tower Semiconductor Company 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.