Castleark Management LLC Sells 29,560 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Castleark Management LLC trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 21.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,770 shares of the semiconductor company's stock after selling 29,560 shares during the quarter. Castleark Management LLC owned approximately 0.10% of Tower Semiconductor worth $5,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSEM. Invesco Ltd. boosted its stake in shares of Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock valued at $90,721,000 after purchasing an additional 1,260,683 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Tower Semiconductor by 21.0% during the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock worth $193,604,000 after buying an additional 653,191 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth about $33,034,000. Shellback Capital LP purchased a new stake in Tower Semiconductor in the fourth quarter valued at approximately $21,261,000. Finally, American Century Companies Inc. purchased a new stake in Tower Semiconductor in the 4th quarter valued at $20,015,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Up 4.0%

NASDAQ:TSEM traded up $1.61 during trading hours on Tuesday, hitting $42.24. 179,493 shares of the company's stock traded hands, compared to its average volume of 570,421. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31. The stock's fifty day moving average price is $36.78 and its two-hundred day moving average price is $43.84. 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 firm has a market cap of $4.68 billion, a P/E ratio of 22.66 and a beta of 0.75.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its 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). Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The firm had revenue of $358.17 million for the quarter, compared to analyst estimates of $358.09 million. During the same period in the prior year, the firm earned $0.40 EPS. The firm's revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Tower Semiconductor Company 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.