Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,983 shares of the semiconductor company's stock after selling 10,688 shares during the period. Public Employees Retirement System of Ohio's holdings in Tower Semiconductor were worth $1,763,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. increased its holdings in Tower Semiconductor by 45.7% during the 4th quarter. Blue Trust Inc. now owns 2,633 shares of the semiconductor company's stock worth $136,000 after purchasing an additional 826 shares during the period. R Squared Ltd purchased a new position in shares of Tower Semiconductor in the 4th quarter valued at $61,000. Y.D. More Investments Ltd increased its holdings in shares of Tower Semiconductor by 27.5% in the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company's stock valued at $44,883,000 after acquiring an additional 187,103 shares during the period. Telligent Fund LP purchased a new position in shares of Tower Semiconductor in the 4th quarter valued at $1,288,000. Finally, Lester Murray Antman dba SimplyRich purchased a new position in shares of Tower Semiconductor in the 4th quarter valued at $663,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Tower Semiconductor Price Performance

NASDAQ:TSEM traded down $0.85 during trading hours on Thursday, hitting $41.25. 283,247 shares of the stock were exchanged, compared to its average volume of 571,351. Tower Semiconductor Ltd. has a 52-week low of $28.64 and a 52-week high of $55.31. The firm's fifty day moving average price is $37.20 and its 200 day moving average price is $43.63. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The company has a market cap of $4.57 billion, a P/E ratio of 22.18 and a beta of 0.75.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The company had revenue of $358.17 million during the quarter, compared to analysts' expectations of $358.09 million. Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. Tower Semiconductor's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. As a group, equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.