Tower Semiconductor Ltd. $TSEM Shares Sold by Truist Financial Corp

Truist Financial Corp cut its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 47.8% during the fourth quarter, Holdings Channel reports. The firm owned 7,917 shares of the semiconductor company’s stock after selling 7,245 shares during the period. Truist Financial Corp’s holdings in Tower Semiconductor were worth $930,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth about $520,000. Canandaigua National Bank & Trust Co. purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth about $259,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth about $244,000. Pictet Asset Management Holding SA boosted its stake in shares of Tower Semiconductor by 75.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 27,149 shares of the semiconductor company’s stock worth $3,177,000 after buying an additional 11,682 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth about $1,292,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Benchmark upped their target price on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna increased their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday. Wedbush increased their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Barclays increased their price target on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor News Summary

Here are the key news stories impacting Tower Semiconductor this week:

• Positive Sentiment: Tower Semiconductor announced $1.3 billion in silicon photonics contracts for 2027, along with $290 million in customer prepayments, signaling major revenue visibility and strong demand for its advanced manufacturing capabilities. Article Title
• Positive Sentiment: The company’s first-quarter results beat expectations, with EPS of $0.65 versus $0.56 expected and revenue of $413.6 million slightly ahead of estimates, while management also raised second-quarter guidance. Article Title
• Positive Sentiment: Analysts turned more constructive after the earnings report, including Wedbush lifting its price target to $300 and other firms boosting forecasts, reinforcing bullish sentiment around TSEM. Article Title

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $273.98 on Friday. The company has a market capitalization of $30.81 billion, a P/E ratio of 127.43 and a beta of 0.85. The business’s 50 day moving average is $189.11 and its two-hundred day moving average is $141.92. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12-month low of $37.48 and a 12-month high of $283.46.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $413.63 million for the quarter, compared to the consensus estimate of $410.72 million. Tower Semiconductor had a return on equity of 8.65% and a net margin of 15.13%.Tower Semiconductor’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 earnings per share. Analysts expect that Tower Semiconductor Ltd. will post 2.64 EPS for the current fiscal year.

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.