Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Northern Trust Corp

Northern Trust Corp decreased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 249,685 shares of the semiconductor company's stock after selling 12,037 shares during the quarter. Northern Trust Corp owned 0.23% of Tower Semiconductor worth $12,861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Nebula Research & Development LLC lifted its holdings in Tower Semiconductor by 4.2% in the fourth quarter. Nebula Research & Development LLC now owns 9,636 shares of the semiconductor company's stock valued at $496,000 after acquiring an additional 388 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Tower Semiconductor by 6.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 74,860 shares of the semiconductor company's stock valued at $3,856,000 after acquiring an additional 4,829 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $479,000. Brasada Capital Management LP purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $412,000. Finally, Arvin Capital Management LP purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $11,243,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock traded down $0.22 on Thursday, reaching $40.76. The company's stock had a trading volume of 223,520 shares, compared to its average volume of 571,234. The company has a market capitalization of $4.52 billion, a P/E ratio of 21.91 and a beta of 0.75. Tower Semiconductor Ltd. has a 52-week low of $28.64 and a 52-week high of $55.31. The stock has a 50-day moving average price of $36.69 and a 200-day moving average price of $43.88. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its quarterly 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). Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The firm had revenue of $358.17 million for the quarter, compared to analysts' expectations of $358.09 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of recent analyst reports. 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. Benchmark restated a "buy" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Tower Semiconductor currently has an average rating of "Moderate Buy" and a consensus target price 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.