Tidal Investments LLC Decreases Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Tidal Investments LLC lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,319 shares of the semiconductor company's stock after selling 7,359 shares during the period. Tidal Investments LLC owned about 0.06% of Tower Semiconductor worth $3,313,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Tower Semiconductor during the 4th quarter valued at $61,000. Blue Trust Inc. boosted its position in Tower Semiconductor by 12.7% during the 4th 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 during the period. Crews Bank & Trust purchased a new stake in Tower Semiconductor during the 4th quarter valued at $134,000. Caption Management LLC purchased a new stake in Tower Semiconductor during the 4th quarter valued at $155,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Tower Semiconductor during the 4th quarter valued at $203,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wedbush reissued an "outperform" rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Tower Semiconductor has an average rating of "Moderate Buy" and an average price target of $60.00.

Tower Semiconductor Trading Up 3.8%

Shares of NASDAQ:TSEM traded up $1.53 on Tuesday, hitting $42.16. The company had a trading volume of 114,625 shares, compared to its average volume of 708,767. The firm's 50-day simple moving average is $36.78 and its two-hundred day simple moving average is $43.84. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 22.65 and a beta of 0.75.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued 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). Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. The business had revenue of $358.17 million for the quarter, compared to analysts' expectations of $358.09 million. During the same period last year, the business earned $0.40 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Tower Semiconductor Company Profile

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.