Tower Semiconductor Ltd. (NASDAQ:TSEM) Position Cut by Deutsche Bank AG

Deutsche Bank AG lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 39.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,991 shares of the semiconductor company's stock after selling 88,000 shares during the quarter. Deutsche Bank AG owned about 0.12% of Tower Semiconductor worth $7,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSEM. R Squared Ltd acquired a new stake in Tower Semiconductor during the fourth quarter valued at approximately $61,000. Blue Trust Inc. raised its stake in Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock valued at $105,000 after buying an additional 230 shares in the last quarter. Crews Bank & Trust acquired a new stake in Tower Semiconductor during the fourth quarter valued at approximately $134,000. Caption Management LLC acquired a new stake in Tower Semiconductor during the fourth quarter valued at approximately $155,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Tower Semiconductor during the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Analyst Ratings Changes

TSEM has been the topic of several research reports. Benchmark restated a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday, May 15th. Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock traded down $0.13 on Friday, reaching $40.63. 273,861 shares of the company were exchanged, compared to its average volume of 570,959. 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 company's 50-day moving average is $36.74 and its two-hundred day moving average is $43.87. The firm 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 1-year low of $28.64 and a 1-year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced 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). Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The company had revenue of $358.17 million for the quarter, compared to analyst estimates of $358.09 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, 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.