Tectonic Advisors LLC Has $1.21 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Key Points

• Tectonic Advisors LLC trimmed its stake by 47.2% in Q4, selling 9,196 shares and leaving 10,287 shares in Tower Semiconductor valued at about $1.21 million.
• Tower beat Q4 estimates with EPS of $0.78 vs. $0.67 and revenue of $440.21M (up 13.7% YoY); analysts have raised price targets but the consensus rating remains a "Hold" with an average target of $173.
• Shares are trading near their 52-week high (opened at $209.47; 52-week high $212.00) with a market cap of $23.55B, and roughly 70.5% of the stock is owned by institutional investors.

Tectonic Advisors LLC trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,287 shares of the semiconductor company's stock after selling 9,196 shares during the period. Tectonic Advisors LLC's holdings in Tower Semiconductor were worth $1,208,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TSEM. Amundi boosted its stake in shares of Tower Semiconductor by 86.8% during the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company's stock worth $771,000 after buying an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Tower Semiconductor by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company's stock worth $3,553,000 after buying an additional 3,954 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tower Semiconductor by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company's stock worth $4,135,000 after buying an additional 662 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Tower Semiconductor during the 2nd quarter worth about $438,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Tower Semiconductor during the 2nd quarter worth about $5,809,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Trading Up 2.9%

Shares of NASDAQ:TSEM opened at $209.47 on Tuesday. Tower Semiconductor Ltd. has a 52-week low of $33.20 and a 52-week high of $212.00. The company has a market capitalization of $23.55 billion, a P/E ratio of 108.53 and a beta of 0.71. The company has a 50-day simple moving average of $148.84 and a 200 day simple moving average of $119.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business 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 business posted $0.49 EPS. Tower Semiconductor's revenue was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of recent research reports. Benchmark increased their price objective on shares of Tower Semiconductor from $165.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Wedbush increased their price objective on shares of Tower Semiconductor from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, February 12th. Barclays increased their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Friday, February 13th. Weiss Ratings restated a "hold (c)" rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Finally, Susquehanna reiterated a "positive" rating and issued a $180.00 target price on shares of Tower Semiconductor in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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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