Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Y.D. More Investments Ltd

Y.D. More Investments Ltd reduced its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 99.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,110 shares of the semiconductor company's stock after selling 929,656 shares during the period. Y.D. More Investments Ltd's holdings in Tower Semiconductor were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TSEM. Byrne Asset Management LLC purchased a new stake in shares of Tower Semiconductor during the third quarter valued at $27,000. Signaturefd LLC boosted its position in shares of Tower Semiconductor by 189.8% during the fourth quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company's stock valued at $62,000 after buying an additional 1,321 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Tower Semiconductor during the fourth quarter valued at $47,000. EverSource Wealth Advisors LLC boosted its position in shares of Tower Semiconductor by 336.4% during the third quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company's stock valued at $52,000 after buying an additional 1,635 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tower Semiconductor by 7.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,674 shares of the semiconductor company's stock valued at $875,000 after buying an additional 2,032 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSEM has been the topic of several recent analyst reports. Susquehanna began coverage on Tower Semiconductor in a research report on Thursday, February 29th. They set a "neutral" rating and a $36.00 price objective on the stock. TheStreet raised Tower Semiconductor from a "c+" rating to a "b-" rating in a report on Friday, March 8th. Finally, StockNews.com raised Tower Semiconductor from a "hold" rating to a "buy" rating in a report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Tower Semiconductor has a consensus rating of "Moderate Buy" and a consensus price target of $36.33.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM traded up $0.18 during trading on Thursday, hitting $32.49. The company had a trading volume of 639,553 shares, compared to its average volume of 633,270. The stock has a 50 day simple moving average of $32.56 and a 200 day simple moving average of $29.66. 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 Ltd. has a 12 month low of $21.43 and a 12 month high of $44.77. The firm has a market capitalization of $3.55 billion, a P/E ratio of 6.99 and a beta of 0.93.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. The firm had revenue of $351.71 million for the quarter, compared to the consensus estimate of $350.00 million. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.52 earnings per share 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.