UBS Group AG Sells 169,243 Shares of Tower Semiconductor Ltd. $TSEM

UBS Group AG decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 31.5% during the 4th quarter, HoldingsChannel reports. The fund owned 368,654 shares of the semiconductor company’s stock after selling 169,243 shares during the quarter. UBS Group AG’s holdings in Tower Semiconductor were worth $43,287,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quent Capital LLC bought a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $1,292,000. Vanguard Group Inc. raised its holdings in shares of Tower Semiconductor by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after purchasing an additional 53,112 shares during the last quarter. Calamos Advisors LLC lifted its position in shares of Tower Semiconductor by 156.0% in the fourth quarter. Calamos Advisors LLC now owns 24,743 shares of the semiconductor company’s stock worth $2,905,000 after purchasing an additional 15,079 shares in the last quarter. WT Asset Management Ltd acquired a new position in Tower Semiconductor during the fourth quarter worth $78,967,000. Finally, Rockingstone Advisors LLC acquired a new position in Tower Semiconductor during the fourth quarter worth $5,296,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

TSEM opened at $216.87 on Thursday. Tower Semiconductor Ltd. has a 12-month low of $35.42 and a 12-month high of $232.67. The stock has a market cap of $24.39 billion, a price-to-earnings ratio of 112.37 and a beta of 0.85. The business has a 50 day moving average of $172.96 and a 200-day moving average of $134.13. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business had revenue of $440.21 million for the quarter, compared to the consensus estimate of $439.81 million. During the same period in the prior year, the company posted $0.49 earnings per share. Tower Semiconductor’s revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts expect that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wedbush lifted their price target on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Susquehanna restated a “positive” rating and set a $180.00 price objective on shares of Tower Semiconductor in a research note on Thursday, February 12th. Barclays raised their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Finally, Benchmark lifted their target price on Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $173.00.

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.