Clal Insurance Enterprises Holdings Ltd decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 25.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 746,520 shares of the semiconductor company’s stock after selling 250,000 shares during the quarter. Clal Insurance Enterprises Holdings Ltd owned approximately 0.76% of Tower Semiconductor worth $11,004,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of TSEM. Epoch Investment Partners Inc. bought a new position in Tower Semiconductor in the 3rd quarter valued at $31,850,000. Clearbridge Investments LLC raised its position in Tower Semiconductor by 948,247.6% in the 3rd quarter. Clearbridge Investments LLC now owns 995,765 shares of the semiconductor company’s stock valued at $21,668,000 after purchasing an additional 995,660 shares during the last quarter. Ibex Investors LLC bought a new position in Tower Semiconductor in the 4th quarter valued at $11,011,000. FMR LLC raised its position in Tower Semiconductor by 197.1% in the 3rd quarter. FMR LLC now owns 529,400 shares of the semiconductor company’s stock valued at $11,520,000 after purchasing an additional 351,200 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Tower Semiconductor by 58.3% in the 3rd quarter. Renaissance Technologies LLC now owns 488,900 shares of the semiconductor company’s stock valued at $10,638,000 after purchasing an additional 180,000 shares during the last quarter. Hedge funds and other institutional investors own 50.67% of the company’s stock.
Several equities research analysts have recently commented on TSEM shares. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a research note on Tuesday, December 25th. ValuEngine cut Tower Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $17.00 target price (down from $20.00) on shares of Tower Semiconductor in a research note on Tuesday, January 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Tower Semiconductor presently has a consensus rating of “Buy” and an average price target of $24.42.
NASDAQ TSEM opened at $16.58 on Friday. The firm has a market capitalization of $1.66 billion, a PE ratio of 10.98, a PEG ratio of 1.28 and a beta of 1.21. Tower Semiconductor Ltd. has a 52 week low of $13.56 and a 52 week high of $30.39. The company has a quick ratio of 4.01, a current ratio of 4.85 and a debt-to-equity ratio of 0.21.
Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Tuesday, February 19th. The semiconductor company reported $0.41 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $333.59 million during the quarter, compared to analysts’ expectations of $338.08 million. Tower Semiconductor had a return on equity of 13.59% and a net margin of 10.40%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.55 EPS. As a group, equities research analysts expect that Tower Semiconductor Ltd. will post 1.32 EPS for the current year.
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Tower Semiconductor Profile
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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