Cambiar Investors LLC Sells 6,882 Shares of Tower Semiconductor Ltd. $TSEM

Key Points

• Cambiar Investors LLC reduced its stake in Tower Semiconductor Ltd. by 16.4%, selling 6,882 shares and bringing its total holdings to 35,038 shares valued at $1,249,000.
• Wall Street analysts have set a target price of $66.00 for Tower Semiconductor, with a consensus rating of "Moderate Buy" and evaluations indicating potential future growth.
• Tower Semiconductor reported earnings of $0.41 per share, falling short of the expected $0.47, but showed a 6.0% increase in revenue compared to the same quarter last year.

Cambiar Investors LLC lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,038 shares of the semiconductor company's stock after selling 6,882 shares during the quarter. Cambiar Investors LLC's holdings in Tower Semiconductor were worth $1,249,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in shares of Tower Semiconductor in the first quarter worth about $551,000. Wealth Enhancement Advisory Services LLC raised its stake in Tower Semiconductor by 8.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,715 shares of the semiconductor company's stock valued at $525,000 after purchasing an additional 1,138 shares during the period. Squarepoint Ops LLC bought a new stake in Tower Semiconductor during the 4th quarter valued at approximately $247,000. Fifth Third Bancorp raised its stake in Tower Semiconductor by 18.0% during the 1st quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company's stock valued at $352,000 after purchasing an additional 1,509 shares during the period. Finally, Cetera Investment Advisers bought a new stake in Tower Semiconductor during the 4th quarter valued at approximately $249,000. Institutional investors own 70.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Susquehanna set a $66.00 target price on Tower Semiconductor and gave the company a "positive" rating in a research note on Tuesday, August 5th. Benchmark reissued a "buy" rating and set a $66.00 target price (up previously from $60.00) on shares of Tower Semiconductor in a research note on Monday, August 4th. Finally, Wedbush set a $65.00 target price on Tower Semiconductor and gave the company an "outperform" rating in a research note on Tuesday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.25.

Tower Semiconductor Stock Down 0.8%

Shares of TSEM opened at $46.87 on Monday. The company has a market capitalization of $5.19 billion, a PE ratio of 26.94 and a beta of 0.77. The business's 50 day moving average is $45.00 and its 200 day moving average is $41.56. The company has a current ratio of 6.57, a quick ratio of 5.50 and a debt-to-equity ratio of 0.05. 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 released its quarterly earnings results on Monday, August 4th. The semiconductor company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $372.06 million for the quarter, compared to analysts' expectations of $371.63 million. Tower Semiconductor had a net margin of 13.20% and a return on equity of 7.37%. The business's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Research analysts expect that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

About Tower Semiconductor

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.

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