Is Tower Semiconductor Ltd. (USA) (TSEM) A Good Stock To Buy Right Now?

Now, some big names were breaking ground themselves. Laurion Capital Management, managed by Benjamin A. Smith, assembled the largest position in Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM). Laurion Capital Management had $7.4 million invested in the company at the end of the quarter. Millennium Management also initiated a $3.8 million position during the quarter. The other funds with brand new TSEM positions are D. E. Shaw’s D E Shaw, Simon Sadler’s Segantii Capital, and Ken Griffin’s Citadel Investment Group.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) but similarly valued. These stocks are McEwen Mining Inc (NYSE:MUX), Infoblox Inc (NYSE:BLOX), Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), and Multi-Color Corporation (NASDAQ:LABL). All of these stocks’ market caps are similar to TSEM’s market cap.

As you can see these stocks had an average of 18 hedge funds with bullish positions and the average amount invested in these stocks was $212 million. That figure was $237 million in TSEM’s case. Infoblox Inc (NYSE:BLOX) is the most popular stock in this table. On the other hand Multi-Color Corporation (NASDAQ:LABL) is the least popular one with only 7 bullish hedge fund positions. Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BLOX might be a better candidate to consider a long position.

Disclosure: None