Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. decreased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,471 shares of the semiconductor company's stock after selling 7,447 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Tower Semiconductor were worth $1,312,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock valued at $1,060,000 after acquiring an additional 23,385 shares in the last quarter. Dakota Wealth Management acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at about $920,000. DGS Capital Management LLC raised its holdings in shares of Tower Semiconductor by 30.0% in the 4th quarter. DGS Capital Management LLC now owns 19,297 shares of the semiconductor company's stock worth $994,000 after acquiring an additional 4,453 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Tower Semiconductor by 26.9% during the 4th quarter. Fifth Third Bancorp now owns 8,376 shares of the semiconductor company's stock valued at $431,000 after acquiring an additional 1,773 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Tower Semiconductor by 45.7% in the 4th quarter. Blue Trust Inc. now owns 2,633 shares of the semiconductor company's stock worth $136,000 after buying an additional 826 shares during the period. Institutional investors and hedge funds own 70.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSEM. Benchmark restated a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Thursday. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Trading Down 2.3%

TSEM stock traded down $0.95 during trading on Friday, hitting $41.11. The company had a trading volume of 533,531 shares, compared to its average volume of 570,709. The firm has a market capitalization of $4.56 billion, a P/E ratio of 22.10 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 company has a 50 day simple moving average of $36.40 and a 200-day simple moving average of $43.93. 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 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). Tower Semiconductor had a net margin of 14.47% and a return on equity of 8.11%. The firm had revenue of $358.17 million during the quarter, compared to the consensus estimate of $358.09 million. As a group, research analysts forecast 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.