Sphera Funds Management LTD. Reduces Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Sphera Funds Management LTD. cut its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 20.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 166,149 shares of the semiconductor company's stock after selling 43,292 shares during the period. Tower Semiconductor accounts for 1.5% of Sphera Funds Management LTD.'s portfolio, making the stock its 20th largest holding. Sphera Funds Management LTD. owned 0.15% of Tower Semiconductor worth $8,558,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Tower Semiconductor by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock valued at $205,954,000 after acquiring an additional 42,969 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Tower Semiconductor by 21.0% during the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock worth $193,604,000 after acquiring an additional 653,191 shares in the last quarter. Invesco Ltd. increased its position in Tower Semiconductor by 251.9% during the 4th quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock valued at $90,721,000 after purchasing an additional 1,260,683 shares during the period. Menora Mivtachim Holdings LTD. lifted its position in shares of Tower Semiconductor by 16.4% in the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock worth $69,307,000 after purchasing an additional 189,738 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of Tower Semiconductor by 2.5% during 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 purchasing an additional 25,247 shares in the last quarter. Institutional investors own 70.51% of the company's stock.

Wall Street Analyst Weigh In

TSEM has been the subject of several analyst reports. Benchmark reissued a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Thursday, May 15th. Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from 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 down $0.17 during mid-day trading on Wednesday, reaching $41.02. 152,990 shares of the stock were exchanged, compared to its average volume of 570,853. The business's 50 day moving average is $36.62 and its 200-day moving average is $43.90. The company has a market capitalization of $4.55 billion, a P/E ratio of 22.11 and a beta of 0.75. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings results 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 business had revenue of $358.17 million during the quarter, compared to analyst estimates of $358.09 million. Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. On average, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS 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.