Swiss National Bank Sells 23,873 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Swiss National Bank decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 217,982 shares of the semiconductor company's stock after selling 23,873 shares during the period. Swiss National Bank owned approximately 0.20% of Tower Semiconductor worth $6,682,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CVA Family Office LLC acquired a new position in Tower Semiconductor during the fourth quarter worth $47,000. Signaturefd LLC lifted its holdings in Tower Semiconductor by 189.8% during the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company's stock worth $62,000 after buying an additional 1,321 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tower Semiconductor by 336.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company's stock worth $52,000 after acquiring an additional 1,635 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $317,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth about $411,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

NASDAQ TSEM traded up $0.22 during trading on Thursday, reaching $36.97. The company's stock had a trading volume of 425,124 shares, compared to its average volume of 615,512. The business's fifty day moving average price is $32.98 and its 200-day moving average price is $30.51. Tower Semiconductor Ltd. has a twelve month low of $21.43 and a twelve month high of $41.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 5.38. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 8.42 and a beta of 0.93.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.08. The business had revenue of $327.24 million for the quarter, compared to analyst estimates of $325.00 million. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. As a group, analysts anticipate that Tower Semiconductor Ltd. will post 1.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSEM has been the topic of a number of research analyst reports. StockNews.com raised shares of Tower Semiconductor from a "hold" rating to a "buy" rating in a report on Monday, March 25th. Benchmark reissued a "buy" rating and issued a $40.00 price target on shares of Tower Semiconductor in a research report on Friday, May 10th. Craig Hallum upped their price objective on shares of Tower Semiconductor from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Friday, May 10th. TheStreet upgraded Tower Semiconductor from a "c+" rating to a "b-" rating in a research report on Friday, March 8th. Finally, Susquehanna raised Tower Semiconductor from a "neutral" rating to a "positive" rating and upped their target price for the company from $36.00 to $55.00 in a research report on Friday, May 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $46.33.

About Tower Semiconductor

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.