Artemis Investment Management LLP Has $10.28 Million Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Artemis Investment Management LLP lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,482 shares of the semiconductor company’s stock after selling 17,235 shares during the period. Artemis Investment Management LLP’s holdings in Tower Semiconductor were worth $10,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Oliver Luxxe Assets LLC boosted its holdings in shares of Tower Semiconductor by 5.5% during the 4th quarter. Oliver Luxxe Assets LLC now owns 44,378 shares of the semiconductor company’s stock valued at $2,292,000 after acquiring an additional 2,322 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Tower Semiconductor by 4.6% during the third quarter. Tidal Investments LLC now owns 71,678 shares of the semiconductor company’s stock worth $3,172,000 after purchasing an additional 3,168 shares during the last quarter. Barclays PLC increased its stake in shares of Tower Semiconductor by 4,081.2% in the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after buying an additional 23,385 shares during the period. Geode Capital Management LLC boosted its position in Tower Semiconductor by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company’s stock worth $4,154,000 after buying an additional 823 shares during the period. Finally, Gordian Capital Singapore Pte Ltd grew its holdings in Tower Semiconductor by 140.0% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 24,000 shares of the semiconductor company’s stock worth $1,062,000 after acquiring an additional 14,000 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $52.58 on Monday. The company has a market cap of $5.83 billion, a P/E ratio of 28.42 and a beta of 0.89. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $49.73 and a two-hundred day moving average price of $44.74. Tower Semiconductor Ltd. has a 1-year low of $28.11 and a 1-year high of $54.27.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. The firm had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several analyst reports. Craig Hallum raised their price target 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. Susquehanna lifted their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday, November 14th. Finally, StockNews.com lowered 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 three have assigned a buy rating to the company. Based on data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

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.