Katamaran Capital LLP Invests $5.32 Million in Tower Semiconductor Ltd. $TSEM

Katamaran Capital LLP purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 73,635 shares of the semiconductor company’s stock, valued at approximately $5,324,000. Tower Semiconductor accounts for approximately 4.9% of Katamaran Capital LLP’s investment portfolio, making the stock its 8th biggest position. Katamaran Capital LLP owned about 0.07% of Tower Semiconductor at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSEM. Prospera Financial Services Inc acquired a new stake in shares of Tower Semiconductor during the third quarter worth $280,000. Thompson Davis & CO. Inc. acquired a new position in shares of Tower Semiconductor in the third quarter valued at about $210,000. Penserra Capital Management LLC increased its position in Tower Semiconductor by 43.4% during the third quarter. Penserra Capital Management LLC now owns 671,657 shares of the semiconductor company’s stock worth $48,560,000 after acquiring an additional 203,176 shares during the period. Westside Investment Management Inc. increased its position in Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 226 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in Tower Semiconductor in the 3rd quarter worth about $5,803,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Benchmark reiterated a “buy” rating and issued a $150.00 price target (up from $120.00) on shares of Tower Semiconductor in a research note on Friday, January 9th. Wedbush downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research report on Wednesday, December 31st. Barclays lifted their price objective on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Finally, Susquehanna increased their target price on Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $126.75.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $147.53 on Tuesday. The business has a fifty day moving average price of $124.35 and a two-hundred day moving average price of $89.80. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $149.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61.

Tower Semiconductor Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.