Northern Trust Corp Sells 12,037 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Northern Trust Corp decreased its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4.6% during the fourth quarter, according to the company in 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 period. Northern Trust Corp owned about 0.23% of Tower Semiconductor worth $12,861,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Tower Semiconductor by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock valued at $205,954,000 after buying an additional 42,969 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock worth $90,721,000 after acquiring an additional 1,260,683 shares during the period. Menora Mivtachim Holdings LTD. increased its position in Tower Semiconductor by 16.4% during the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock valued at $69,307,000 after acquiring an additional 189,738 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Tower Semiconductor by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock valued at $53,456,000 after acquiring an additional 25,247 shares during the period. Finally, Y.D. More Investments Ltd boosted its position 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 worth $44,883,000 after purchasing an additional 187,103 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company's stock.

Analyst Upgrades and Downgrades

TSEM has been the subject of several research reports. Benchmark reaffirmed a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Thursday, May 15th. Wedbush restated an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Stock Performance

NASDAQ:TSEM traded up $0.04 during mid-day trading on Tuesday, hitting $41.19. 564,075 shares of the company traded hands, compared to its average volume of 571,822. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The stock's fifty day moving average price is $36.54 and its 200-day moving average price is $43.92. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 22.15 and a beta of 0.75. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates 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%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

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.