BCK Capital Management LP Acquires Shares of 41,500 Tower Semiconductor Ltd. (NASDAQ:TSEM)

BCK Capital Management LP acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEMGet Rating) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 41,500 shares of the semiconductor company’s stock, valued at approximately $2,009,000. Tower Semiconductor comprises approximately 1.2% of BCK Capital Management LP’s investment portfolio, making the stock its 24th largest position.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $595,000. Dimensional Fund Advisors LP lifted its position in Tower Semiconductor by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 527,907 shares of the semiconductor company’s stock worth $20,947,000 after purchasing an additional 7,592 shares during the period. Allianz Asset Management GmbH lifted its position in Tower Semiconductor by 79.3% during the fourth quarter. Allianz Asset Management GmbH now owns 34,195 shares of the semiconductor company’s stock worth $1,357,000 after purchasing an additional 15,124 shares during the period. JPMorgan Chase & Co. lifted its position in Tower Semiconductor by 63.6% during the fourth quarter. JPMorgan Chase & Co. now owns 411,771 shares of the semiconductor company’s stock worth $16,339,000 after purchasing an additional 160,016 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD lifted its position in Tower Semiconductor by 110.3% during the fourth quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 403,785 shares of the semiconductor company’s stock worth $16,035,000 after purchasing an additional 211,784 shares during the period.

Tower Semiconductor Stock Up 1.7 %

TSEM stock opened at $46.74 on Thursday. The firm has a 50-day moving average price of $46.69 and a 200-day moving average price of $45.29. Tower Semiconductor Ltd. has a 12 month low of $26.11 and a 12 month high of $49.13. The company has a current ratio of 3.88, a quick ratio of 3.11 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $4.99 billion, a P/E ratio of 29.21 and a beta of 1.08.

Tower Semiconductor (NASDAQ:TSEMGet Rating) last released its earnings results on Monday, May 16th. The semiconductor company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The business had revenue of $421.13 million during the quarter, compared to the consensus estimate of $412.45 million. Tower Semiconductor had a net margin of 11.11% and a return on equity of 11.20%. As a group, equities research analysts anticipate that Tower Semiconductor Ltd. will post 2.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Friday, May 27th.

Tower Semiconductor Company Profile

(Get Rating)

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, other Asia countries, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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