UBS Group AG Has $43.29 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Key Points

• UBS Group AG cut its stake in Tower Semiconductor by 31.5% in Q4, selling 169,243 shares and finishing the period with 368,654 shares worth about $43.29 million.
• Tower reported an earnings beat of $0.78 EPS vs. $0.67 expected and revenue of $440.21 million (up 13.7% year-over-year), indicating improving fundamentals.
• Analysts have raised some price targets (Benchmark to $230) but the consensus remains a Hold with a $173 average target; the stock trades near recent highs (~$216.87) and carries a rich valuation (P/E ~112).

UBS Group AG decreased its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 31.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 368,654 shares of the semiconductor company's stock after selling 169,243 shares during the period. UBS Group AG's holdings in Tower Semiconductor were worth $43,287,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TSEM. Quent Capital LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth $1,292,000. Vanguard Group Inc. boosted its holdings in Tower Semiconductor by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company's stock worth $507,317,000 after buying an additional 53,112 shares during the last quarter. Calamos Advisors LLC grew its position in shares of Tower Semiconductor by 156.0% during the 4th quarter. Calamos Advisors LLC now owns 24,743 shares of the semiconductor company's stock worth $2,905,000 after buying an additional 15,079 shares during the period. WT Asset Management Ltd bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $78,967,000. Finally, Rockingstone Advisors LLC acquired a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $5,296,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Down 3.8%

Shares of TSEM stock opened at $216.87 on Thursday. The firm has a fifty day moving average of $172.96 and a 200-day moving average of $134.13. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12-month low of $35.42 and a 12-month high of $232.67. The company has a market capitalization of $24.39 billion, a price-to-earnings ratio of 112.37 and a beta of 0.85.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. The business had revenue of $440.21 million for the quarter, compared to analysts' expectations of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The firm's revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. As a group, equities research analysts predict that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TSEM shares. Susquehanna restated a "positive" rating and set a $180.00 price objective on shares of Tower Semiconductor in a report on Thursday, February 12th. Wedbush boosted their price target on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, February 12th. Benchmark raised their price objective on Tower Semiconductor from $165.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Finally, Barclays boosted their target price on Tower Semiconductor from $114.00 to $142.00 and gave the company an "equal weight" rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $173.00.

Tower Semiconductor Company 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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