Meitav Investment House Ltd. decreased its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,465,900 shares of the semiconductor company's stock after selling 124,593 shares during the quarter. Meitav Investment House Ltd. owned approximately 1.34% of Tower Semiconductor worth $44,755,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Baupost Group LLC MA purchased a new stake in shares of Tower Semiconductor during the 3rd quarter worth $69,996,000. Victory Capital Management Inc. acquired a new position in shares of Tower Semiconductor during the 3rd quarter worth about $42,314,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Tower Semiconductor by 94.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,586,287 shares of the semiconductor company's stock valued at $63,519,000 after acquiring an additional 1,257,181 shares during the last quarter. Morgan Stanley increased its holdings in shares of Tower Semiconductor by 1,051.2% in the 3rd quarter. Morgan Stanley now owns 1,286,298 shares of the semiconductor company's stock valued at $31,591,000 after acquiring an additional 1,174,560 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Tower Semiconductor during the 1st quarter worth about $46,105,000. Institutional investors and hedge funds own 70.51% of the company's stock.
Tower Semiconductor Stock Performance
NASDAQ TSEM traded down $0.53 on Thursday, reaching $33.30. The stock had a trading volume of 532,605 shares, compared to its average volume of 678,040. The stock has a market cap of $3.64 billion, a P/E ratio of 7.16 and a beta of 0.94. Tower Semiconductor Ltd. has a 12-month low of $21.43 and a 12-month high of $45.87. The business's 50-day moving average price is $32.31 and its 200 day moving average price is $28.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.15 and a current ratio of 6.17.
Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. The firm had revenue of $351.71 million during the quarter, compared to the consensus estimate of $350.00 million. As a group, equities analysts expect that Tower Semiconductor Ltd. will post 1.52 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on TSEM. TheStreet raised Tower Semiconductor from a "c+" rating to a "b-" rating in a report on Friday, March 8th. StockNews.com upgraded shares of Tower Semiconductor from a "hold" rating to a "buy" rating in a report on Monday, March 25th. Finally, Susquehanna initiated coverage on shares of Tower Semiconductor in a research note on Thursday, February 29th. They set a "neutral" rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.33.
View Our Latest Report on Tower Semiconductor
About Tower Semiconductor
(
Free Report)
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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