Polymer Capital Management US LLC Purchases Shares of 86,900 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Polymer Capital Management US LLC acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 86,900 shares of the semiconductor company’s stock, valued at approximately $4,476,000. Tower Semiconductor comprises about 1.2% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 20th biggest holding.

A number of other hedge funds have also recently made changes to their positions in TSEM. R Squared Ltd acquired a new position in Tower Semiconductor during the fourth quarter worth $61,000. Blue Trust Inc. raised its holdings in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 230 shares during the period. Crews Bank & Trust acquired a new position in Tower Semiconductor during the 4th quarter worth about $134,000. Cornerstone Investment Partners LLC purchased a new position in Tower Semiconductor during the 4th quarter valued at about $203,000. Finally, Callan Family Office LLC acquired a new position in Tower Semiconductor in the 4th quarter valued at about $323,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

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

Analysts Set New Price Targets

TSEM has been the topic of several research reports. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.00.

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.