Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Has $52.60 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Key Points

• Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management reduced its position in Tower Semiconductor by 45.1% in Q4, selling 368,343 shares and retaining 447,991 shares worth $52.6 million, which equals 7.3% of its portfolio and is its 5th-largest holding.
• Tower Semiconductor recently beat quarterly estimates with EPS of $0.78 (vs. $0.67) and revenue of $440.2M (up 13.7% YoY); the company has a market cap of about $22.5B, a 1-year stock range of $34.73–$228.73, and a consensus analyst rating of Hold with a $173 price target.

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management reduced its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 45.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 447,991 shares of the semiconductor company's stock after selling 368,343 shares during the quarter. Tower Semiconductor comprises 7.3% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's portfolio, making the stock its 5th largest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's holdings in Tower Semiconductor were worth $52,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Tower Semiconductor by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,284,968 shares of the semiconductor company's stock valued at $305,630,000 after purchasing an additional 78,697 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company's stock valued at $352,589,000 after acquiring an additional 25,000 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Tower Semiconductor by 18.8% during the 3rd quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company's stock valued at $168,591,000 after acquiring an additional 369,600 shares during the last quarter. Meitav Investment House Ltd. lifted its position in shares of Tower Semiconductor by 1.2% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,268,503 shares of the semiconductor company's stock valued at $162,870,000 after acquiring an additional 25,989 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Tower Semiconductor by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company's stock valued at $152,409,000 after acquiring an additional 15,461 shares during the last quarter. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $199.96 on Friday. Tower Semiconductor Ltd. has a 1-year low of $34.73 and a 1-year high of $228.73. 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 $22.49 billion, a price-to-earnings ratio of 103.61 and a beta of 0.71. The stock's fifty day simple moving average is $163.10 and its 200-day simple moving average is $127.59.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating 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 business had revenue of $440.21 million for the quarter, compared to the consensus estimate of $439.81 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Tower Semiconductor's revenue for the quarter was up 13.7% compared to the same quarter last year. On average, sell-side analysts predict that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TSEM shares. Barclays increased their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the company an "equal weight" rating in a research report on Friday, February 13th. Wedbush increased their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Susquehanna reiterated a "positive" rating and set a $180.00 price objective on shares of Tower Semiconductor in a research report on Thursday, February 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Finally, Benchmark increased their price objective on Tower Semiconductor from $165.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 26th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $173.00.

Tower Semiconductor 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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