Shellback Capital LP Sells 162,754 Shares of Tower Semiconductor Ltd. $TSEM

Key Points

• Shellback Capital LP reduced its position in Tower Semiconductor by 39.4%, now owning 250,000 shares worth approximately $8.9 million after selling 162,754 shares.
• Several institutional investors increased their stakes in Tower Semiconductor during the first quarter, including Amundi, which boosted its position by 86.8%.
• Tower Semiconductor's stock recently opened at $63.21, with a current market capitalization of $7 billion and analysts predicting an average price target of $64.25.

Shellback Capital LP decreased its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 39.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,000 shares of the semiconductor company's stock after selling 162,754 shares during the quarter. Shellback Capital LP owned about 0.23% of Tower Semiconductor worth $8,915,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Tower Semiconductor by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 4,087,155 shares of the semiconductor company's stock valued at $145,106,000 after purchasing an additional 93,868 shares during the period. Point72 Asset Management L.P. boosted its stake in Tower Semiconductor by 21.0% during the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock valued at $193,604,000 after purchasing an additional 653,191 shares during the period. Jennison Associates LLC raised its holdings in Tower Semiconductor by 2.3% in the 1st quarter. Jennison Associates LLC now owns 2,546,357 shares of the semiconductor company's stock valued at $90,803,000 after acquiring an additional 57,544 shares in the last quarter. Wellington Management Group LLP raised its holdings in Tower Semiconductor by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 2,240,229 shares of the semiconductor company's stock valued at $79,887,000 after acquiring an additional 243,267 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Tower Semiconductor by 14.2% in the 1st quarter. Invesco Ltd. now owns 2,010,856 shares of the semiconductor company's stock valued at $71,707,000 after acquiring an additional 249,621 shares in the last quarter. Institutional investors own 70.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Benchmark upped their price target on Tower Semiconductor from $66.00 to $73.00 and gave the company a "buy" rating in a report on Monday. Wedbush set a $65.00 price target on Tower Semiconductor and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Susquehanna set a $66.00 price target on Tower Semiconductor and gave the company a "positive" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $66.00.

Tower Semiconductor Price Performance

Shares of TSEM traded down $0.28 during mid-day trading on Tuesday, reaching $64.57. The company had a trading volume of 1,173,624 shares, compared to its average volume of 1,497,099. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $66.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.57 and a quick ratio of 5.50. The company's 50-day moving average is $50.77 and its 200-day moving average is $42.82. The company has a market capitalization of $7.16 billion, a P/E ratio of 37.11 and a beta of 0.86.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its earnings results on Monday, August 4th. The semiconductor company reported $0.41 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $371.63 million. During the same period in the previous year, the company posted $0.53 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. Tower Semiconductor has set its Q3 2025 guidance at EPS. On average, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

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.