Keybank National Association OH Has $1.12 Million Stock Position in Tower Semiconductor Ltd. $TSEM

Key Points

• KeyBank reduced its stake in Tower Semiconductor by 57.9% in Q4, selling 13,125 shares and leaving it with 9,549 shares valued at about $1.12 million; overall institutional investors and hedge funds own roughly 70.51% of the company.
• Q4 results beat expectations: Tower reported $0.78 EPS versus a $0.67 consensus and revenue of $440.21 million (up 13.7% year-over-year), with analysts projecting ~2.64 EPS for the current year.
• Valuation and sentiment are mixed: market cap is about $24.52 billion with a PE of 112.96, the MarketBeat consensus rating is "Hold" with an average target of $173, though several analysts have recently raised price targets (Benchmark to $230).

Keybank National Association OH reduced its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 57.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,549 shares of the semiconductor company's stock after selling 13,125 shares during the quarter. Keybank National Association OH's holdings in Tower Semiconductor were worth $1,121,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. USA Financial Formulas acquired a new stake in Tower Semiconductor in the fourth quarter valued at about $27,000. CIBC Private Wealth Group LLC boosted its stake in Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock valued at $30,000 after buying an additional 300 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Tower Semiconductor by 100.0% in the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company's stock valued at $34,000 after buying an additional 226 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Tower Semiconductor in the fourth quarter valued at about $68,000. Finally, Farther Finance Advisors LLC boosted its stake in Tower Semiconductor by 575.3% in the fourth quarter. Farther Finance Advisors LLC now owns 655 shares of the semiconductor company's stock valued at $77,000 after buying an additional 558 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $218.01 on Friday. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $24.52 billion, a PE ratio of 112.96 and a beta of 0.85. Tower Semiconductor Ltd. has a 12 month low of $35.42 and a 12 month high of $228.73. The stock has a 50-day moving average price of $169.23 and a two-hundred day moving average price of $131.65.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.11. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The company had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. During the same period last year, the company earned $0.49 earnings per share. The firm's revenue was up 13.7% compared to the same quarter last year. Analysts expect that Tower Semiconductor Ltd. will post 2.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wedbush raised their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, February 12th. Barclays raised their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the company an "equal weight" rating in a research note on Friday, February 13th. Susquehanna reaffirmed a "positive" rating and issued a $180.00 price objective on shares of Tower Semiconductor in a research note on Thursday, February 12th. Finally, Benchmark raised their price objective on Tower Semiconductor from $165.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor has a consensus rating of "Hold" and an average target price of $173.00.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company's technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.

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