Castleark Management LLC Decreases Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Castleark Management LLC reduced its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,770 shares of the semiconductor company's stock after selling 29,560 shares during the quarter. Castleark Management LLC owned 0.10% of Tower Semiconductor worth $5,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of TSEM. Dakota Wealth Management bought a new position in shares of Tower Semiconductor in the fourth quarter worth about $920,000. DGS Capital Management LLC lifted its holdings in shares of Tower Semiconductor by 30.0% in the 4th quarter. DGS Capital Management LLC now owns 19,297 shares of the semiconductor company's stock valued at $994,000 after acquiring an additional 4,453 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Tower Semiconductor by 26.9% in the 4th quarter. Fifth Third Bancorp now owns 8,376 shares of the semiconductor company's stock worth $431,000 after purchasing an additional 1,773 shares during the period. Blue Trust Inc. increased its position in Tower Semiconductor by 45.7% during the fourth quarter. Blue Trust Inc. now owns 2,633 shares of the semiconductor company's stock valued at $136,000 after acquiring an additional 826 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its stake in Tower Semiconductor by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 21,655 shares of the semiconductor company's stock worth $1,115,000 after purchasing an additional 820 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Thursday, May 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Stock Down 0.5%

TSEM stock opened at $40.98 on Thursday. The company has a market capitalization of $4.54 billion, a P/E ratio of 22.03 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. The firm's fifty day simple moving average is $36.66 and its 200-day simple moving average is $43.88. 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 released its quarterly earnings data 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). Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. The company had revenue of $358.17 million for the quarter, compared to analysts' expectations of $358.09 million. During the same quarter in the previous year, the business posted $0.40 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

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.

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