Balyasny Asset Management L.P. Sells 7,447 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Y.D. More Investments Ltd grew its stake in Tower Semiconductor by 27.5% during 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 period. Barclays PLC grew its stake in Tower Semiconductor by 4,081.2% during the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock worth $1,060,000 after purchasing an additional 23,385 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Tower Semiconductor by 292.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company's stock worth $1,506,000 after purchasing an additional 21,773 shares during the period. Dakota Wealth Management acquired a new stake in Tower Semiconductor during the fourth quarter worth approximately $920,000. Finally, Truist Financial Corp grew its stake in Tower Semiconductor by 34.6% during the fourth quarter. Truist Financial Corp now owns 17,330 shares of the semiconductor company's stock worth $893,000 after purchasing an additional 4,455 shares during the period. Institutional investors and hedge funds own 70.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TSEM shares. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reissued a "buy" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Stock Up 0.1%

Tower Semiconductor stock traded up $0.04 during mid-day trading on Monday, reaching $41.15. The stock had a trading volume of 568,579 shares, compared to its average volume of 571,853. 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 Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $55.31. The stock's 50-day simple moving average is $36.54 and its 200-day simple moving average is $43.92. The firm has a market capitalization of $4.56 billion, a PE ratio of 22.12 and a beta of 0.75.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its 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 company had revenue of $358.17 million during the quarter, compared to the consensus estimate of $358.09 million. During the same quarter in the prior year, the business earned $0.40 EPS. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

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.