Tower Semiconductor Ltd. $TSEM Shares Sold by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 4.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,395,560 shares of the semiconductor company’s stock after selling 235,600 shares during the quarter. Tower Semiconductor makes up about 2.9% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 8th biggest position. Clal Insurance Enterprises Holdings Ltd’s holdings in Tower Semiconductor were worth $386,466,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Amundi lifted its position in shares of Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tower Semiconductor by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 3,954 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Tower Semiconductor by 53.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 44,737 shares of the semiconductor company’s stock valued at $1,939,000 after purchasing an additional 15,507 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Tower Semiconductor by 40.6% in the 2nd quarter. Penserra Capital Management LLC now owns 468,481 shares of the semiconductor company’s stock valued at $20,308,000 after purchasing an additional 135,250 shares in the last quarter. Finally, CSM Advisors LLC acquired a new stake in shares of Tower Semiconductor during the 2nd quarter worth about $544,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $124.87 on Friday. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $149.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The stock’s 50-day moving average is $127.16 and its 200-day moving average is $97.08.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The firm had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. During the same quarter in the prior year, the company earned $0.49 EPS. The company’s revenue was up 13.7% on a year-over-year basis. Equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Benchmark boosted their price objective on shares of Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Susquehanna reiterated a “positive” rating and issued a $180.00 price target on shares of Tower Semiconductor in a report on Thursday, February 12th. Wedbush increased their price target on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Barclays lifted their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Tower Semiconductor has a consensus rating of “Hold” and an average target price of $156.75.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.