Systematic Financial Management LP Sells 15,321 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Systematic Financial Management LP cut its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 675,661 shares of the semiconductor company’s stock after selling 15,321 shares during the quarter. Systematic Financial Management LP owned 0.62% of Tower Semiconductor worth $26,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System acquired a new position in Tower Semiconductor in the first quarter valued at about $164,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Tower Semiconductor in the second quarter valued at approximately $177,000. Scientech Research LLC acquired a new stake in shares of Tower Semiconductor during the second quarter worth $200,000. ProShare Advisors LLC bought a new stake in Tower Semiconductor in the 1st quarter valued at $243,000. Finally, Lester Murray Antman dba SimplyRich bought a new position in Tower Semiconductor during the 1st quarter worth about $342,000. 70.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TSEM. StockNews.com cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research note on Monday, September 9th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $51.33.

Tower Semiconductor Trading Up 0.4 %

Shares of TSEM opened at $43.91 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. The firm has a 50-day moving average of $41.05 and a 200-day moving average of $37.72. Tower Semiconductor Ltd. has a one year low of $21.43 and a one year high of $44.58.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $351.18 million for the quarter, compared to the consensus estimate of $350.00 million. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. Sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.82 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.