Barrow Hanley Mewhinney & Strauss LLC Lowers Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Barrow Hanley Mewhinney & Strauss LLC cut its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,871,023 shares of the semiconductor company's stock after selling 77,519 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.69% of Tower Semiconductor worth $96,376,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Tower Semiconductor by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock worth $205,954,000 after acquiring an additional 42,969 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Tower Semiconductor by 21.0% in the fourth quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock valued at $193,604,000 after purchasing an additional 653,191 shares during the last quarter. Invesco Ltd. raised its holdings in Tower Semiconductor by 251.9% during the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock worth $90,721,000 after purchasing an additional 1,260,683 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its position in shares of Tower Semiconductor by 16.4% during the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock worth $69,307,000 after buying an additional 189,738 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of Tower Semiconductor by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock valued at $53,456,000 after buying an additional 25,247 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

Shares of TSEM traded up $0.11 during mid-day trading on Wednesday, reaching $41.68. 120,016 shares of the company's stock were exchanged, compared to its average volume of 569,654. The business's fifty day simple moving average is $36.84 and its 200-day simple moving average is $43.82. The stock has a market capitalization of $4.62 billion, a PE ratio of 22.34 and a beta of 0.75. Tower Semiconductor Ltd. has a 52-week low of $28.64 and a 52-week high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The business had revenue of $358.17 million for the quarter, compared to analyst estimates of $358.09 million. Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. On average, equities research analysts expect that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSEM. Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Profile

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.