Polymer Capital Management HK LTD Takes Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Polymer Capital Management HK LTD purchased a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,116 shares of the semiconductor company’s stock, valued at approximately $470,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Tower Semiconductor in the 4th quarter worth $61,000. Blue Trust Inc. boosted its holdings in Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares during the last quarter. Crews Bank & Trust bought a new stake in Tower Semiconductor in the 4th quarter worth about $134,000. Cornerstone Investment Partners LLC purchased a new stake in Tower Semiconductor in the 4th quarter valued at about $203,000. Finally, Callan Family Office LLC bought a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $323,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on TSEM. Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $29.65 on Monday. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $42.20 and its 200 day simple moving average is $45.70. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $55.31. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 15.94 and a beta of 0.87.

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.