Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 29.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 361,280 shares of the semiconductor company's stock after selling 151,824 shares during the period. Janus Henderson Group PLC owned about 0.33% of Tower Semiconductor worth $18,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Y.D. More Investments Ltd boosted its holdings in Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company's stock valued at $44,883,000 after purchasing an additional 187,103 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Tower Semiconductor by 292.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company's stock worth $1,506,000 after buying an additional 21,773 shares in the last quarter. Dakota Wealth Management acquired a new stake in Tower Semiconductor in the 4th quarter valued at about $920,000. Truist Financial Corp raised its holdings in Tower Semiconductor by 34.6% in the 4th quarter. Truist Financial Corp now owns 17,330 shares of the semiconductor company's stock valued at $893,000 after acquiring an additional 4,455 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Tower Semiconductor by 12.7% in the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock valued at $105,000 after purchasing an additional 230 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Trading Up 0.3%

TSEM stock traded up $0.11 during midday trading on Wednesday, hitting $41.30. The stock had a trading volume of 62,389 shares, compared to its average volume of 570,394. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. The company's 50-day moving average price is $36.62 and its 200 day moving average price is $43.90. The firm has a market cap of $4.58 billion, a PE ratio of 22.18 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $358.17 million for the quarter, compared to analysts' expectations of $358.09 million. Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Benchmark reiterated a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Thursday, May 15th. Wedbush restated an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Tower Semiconductor has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

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.