Artemis Investment Management LLP Increases Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Artemis Investment Management LLP grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 96.4% during the first quarter, HoldingsChannel.com reports. The fund owned 219,573 shares of the semiconductor company’s stock after buying an additional 107,787 shares during the quarter. Artemis Investment Management LLP’s holdings in Tower Semiconductor were worth $7,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TSEM. Hsbc Holdings PLC boosted its holdings in shares of Tower Semiconductor by 108.2% during the 3rd quarter. Hsbc Holdings PLC now owns 54,978 shares of the semiconductor company’s stock valued at $1,346,000 after acquiring an additional 28,568 shares during the last quarter. Trexquant Investment LP boosted its holdings in shares of Tower Semiconductor by 289.5% during the 3rd quarter. Trexquant Investment LP now owns 139,629 shares of the semiconductor company’s stock valued at $3,429,000 after acquiring an additional 103,777 shares during the last quarter. Stansberry Asset Management LLC purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $10,891,000. Seven Eight Capital LP purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $317,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $1,630,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSEM. Craig Hallum increased their price objective on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of Tower Semiconductor in a research note on Friday, May 10th. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Monday, March 25th. TheStreet upgraded shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. Finally, Susquehanna upgraded shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $36.00 to $55.00 in a research note on Friday, May 10th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tower Semiconductor has a consensus rating of “Buy” and a consensus target price of $46.33.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $39.31 on Friday. Tower Semiconductor Ltd. has a 12 month low of $21.43 and a 12 month high of $40.60. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 8.91 and a beta of 0.90. The company’s 50 day moving average is $36.54 and its two-hundred day moving average is $33.08. The company has a current ratio of 5.38, a quick ratio of 4.46 and a debt-to-equity ratio of 0.06.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Thursday, May 9th. The semiconductor company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. The company had revenue of $327.24 million for the quarter, compared to analysts’ expectations of $325.00 million. As a group, research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

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.