Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 169.4% in the fourth quarter, Holdings Channel reports. The firm owned 171,579 shares of the semiconductor company’s stock after purchasing an additional 107,898 shares during the quarter. Russell Investments Group Ltd.’s holdings in Tower Semiconductor were worth $5,237,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Graham Capital Management L.P. grew its stake in Tower Semiconductor by 487.1% in the third quarter. Graham Capital Management L.P. now owns 39,550 shares of the semiconductor company’s stock worth $971,000 after purchasing an additional 32,813 shares in the last quarter. Wellington Management Group LLP grew its stake in Tower Semiconductor by 5,887.4% in the third quarter. Wellington Management Group LLP now owns 499,405 shares of the semiconductor company’s stock worth $12,265,000 after purchasing an additional 491,064 shares in the last quarter. Jennison Associates LLC grew its stake in Tower Semiconductor by 40.2% in the fourth quarter. Jennison Associates LLC now owns 2,069,673 shares of the semiconductor company’s stock worth $63,166,000 after purchasing an additional 593,003 shares in the last quarter. Vanguard Group Inc. grew its stake in Tower Semiconductor by 2.1% in the third quarter. Vanguard Group Inc. now owns 3,669,868 shares of the semiconductor company’s stock worth $90,132,000 after purchasing an additional 74,264 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in Tower Semiconductor by 289.5% in the third quarter. Trexquant Investment LP now owns 139,629 shares of the semiconductor company’s stock worth $3,429,000 after purchasing an additional 103,777 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Trading Up 6.4 %

NASDAQ TSEM opened at $36.44 on Friday. The firm has a market capitalization of $3.98 billion, a PE ratio of 7.84 and a beta of 0.93. The company has a 50-day simple moving average of $32.69 and a 200-day simple moving average of $30.09. Tower Semiconductor Ltd. has a one year low of $21.43 and a one year high of $42.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.15 and a current ratio of 6.17.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $351.71 million during the quarter, compared to analysts’ expectations of $350.00 million. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. On average, equities analysts forecast that Tower Semiconductor Ltd. will post 1.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TSEM. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Monday, March 25th. TheStreet raised shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a report on Friday, March 8th. Finally, Susquehanna began coverage on shares of Tower Semiconductor in a report on Thursday, February 29th. They issued a “neutral” rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

About Tower Semiconductor

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.