Tower Semiconductor Ltd. $TSEM Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its holdings in Tower Semiconductor by 50.6%, lowering its ownership to 316,415 shares valued at approximately $13.7 million.
• Despite missing earnings expectations with an EPS of $0.41, Tower Semiconductor reported a 6% increase in revenue year-over-year, totaling $372.06 million.
• Wall Street analysts are optimistic about Tower Semiconductor, with a consensus rating of "Moderate Buy" and an average target price of $67.60.

Assenagon Asset Management S.A. lessened its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 50.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 316,415 shares of the semiconductor company's stock after selling 324,690 shares during the quarter. Assenagon Asset Management S.A. owned 0.29% of Tower Semiconductor worth $13,737,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Tower Semiconductor by 12.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,585 shares of the semiconductor company's stock worth $770,000 after acquiring an additional 1,870 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in Tower Semiconductor by 9.2% in the second quarter. Central Pacific Bank Trust Division now owns 17,916 shares of the semiconductor company's stock worth $777,000 after acquiring an additional 1,502 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Tower Semiconductor by 45.1% in the first quarter. Voya Investment Management LLC now owns 918,068 shares of the semiconductor company's stock worth $32,738,000 after acquiring an additional 285,471 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Tower Semiconductor by 4.1% in the first 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 acquiring an additional 3,954 shares in the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in Tower Semiconductor by 6.1% in the first quarter. Integrated Wealth Concepts LLC now owns 79,390 shares of the semiconductor company's stock worth $2,831,000 after acquiring an additional 4,530 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Trading Up 3.8%

TSEM opened at $69.55 on Tuesday. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $72.13. The business's 50-day simple moving average is $54.71 and its 200-day simple moving average is $44.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.50 and a current ratio of 6.57. The company has a market cap of $7.71 billion, a P/E ratio of 39.97 and a beta of 0.86.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The semiconductor company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.06). Tower Semiconductor had a return on equity of 7.37% and a net margin of 13.20%.The company had revenue of $372.06 million for the quarter, compared to analyst estimates of $371.63 million. During the same period in the previous year, the business posted $0.53 earnings per share. The firm's revenue was up 6.0% compared to the same quarter last year. Tower Semiconductor has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of research reports. Wedbush set a $65.00 target price on Tower Semiconductor and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Barclays initiated coverage on Tower Semiconductor in a research report on Thursday, September 18th. They set an "equal weight" rating and a $74.00 price target for the company. Susquehanna set a $66.00 price target on Tower Semiconductor and gave the company a "positive" rating in a research report on Tuesday, August 5th. Finally, Benchmark lifted their price target on Tower Semiconductor from $66.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Tower Semiconductor has a consensus rating of "Moderate Buy" and an average target price of $67.60.

Tower Semiconductor 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.

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