Barrow Hanley Mewhinney & Strauss LLC Sells 77,519 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Barrow Hanley Mewhinney & Strauss LLC lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,871,023 shares of the semiconductor company's stock after selling 77,519 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 1.69% of Tower Semiconductor worth $96,376,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Tower Semiconductor in the fourth quarter worth about $61,000. Blue Trust Inc. increased its holdings in shares of Tower Semiconductor by 12.7% in the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock worth $105,000 after buying an additional 230 shares during the period. Crews Bank & Trust purchased a new position in shares of Tower Semiconductor in the fourth quarter worth about $134,000. Caption Management LLC purchased a new position in shares of Tower Semiconductor in the fourth quarter worth about $155,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Tower Semiconductor in the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Tower Semiconductor Trading Down 0.3%

Shares of NASDAQ TSEM traded down $0.13 during trading hours on Friday, hitting $40.63. The company's stock had a trading volume of 273,861 shares, compared to its average volume of 571,939. The business has a 50-day simple moving average of $36.74 and a 200-day simple moving average of $43.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 21.84 and a beta of 0.75. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $55.31.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on TSEM. Wedbush reissued an "outperform" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reissued a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Thursday, May 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.