Billionaire Seth Klarman’s Top 4 Biotech Stock Picks

2. Tower Semiconductor Ltd. (NASDAQ:TSEM)

Seth Klarman’s Stake Value: $69.996 million

Tower Semiconductor Ltd. (NASDAQ:TSEM) is an Israel-based company that offers integrated circuits and related services. TowerJazz offers technologies like RF and HPA, CMOS image sensors, and more to a diverse clientele, including biotech companies like Axbio Inc., with which it partnered to develop microfluidics Bio-CMOS device for molecular in vitro diagnostic (IVD), based on TowerJazz’s 65nm RFCMOS platform.

On November 14, Craig-Hallum analyst Richard Shannon lowered the price target to $33 from $38 on Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock and reaffirmed a Buy rating. The firm mentioned the company’s in-line Q3 results and Q4 guidance is below consensus estimates, and believes the sales will bottom out in Q1 2024.

On November 13, Tower Semiconductor Ltd. (NASDAQ:TSEM) posted its Q3 GAAP EPS of $3.07, which beat the estimates by $0.93 and the revenue of the quarter was $358 million.

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