Tower Semiconductor Ltd. $TSEM is Clal Insurance Enterprises Holdings Ltd’s 6th Largest Position

Clal Insurance Enterprises Holdings Ltd cut its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 10.6% in the 4th quarter, Holdings Channel reports. The fund owned 4,822,838 shares of the semiconductor company’s stock after selling 572,722 shares during the quarter. Tower Semiconductor accounts for approximately 3.6% of Clal Insurance Enterprises Holdings Ltd’s portfolio, making the stock its 6th biggest position. Clal Insurance Enterprises Holdings Ltd’s holdings in Tower Semiconductor were worth $564,944,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSEM. Amundi raised its stake in Tower Semiconductor by 86.8% during the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Tower Semiconductor by 4.1% during 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 acquiring an additional 3,954 shares during the last quarter. Geode Capital Management LLC raised its stake in Tower Semiconductor by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 662 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Tower Semiconductor during the 2nd quarter valued at approximately $438,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Tower Semiconductor during the 2nd quarter valued at approximately $5,809,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TSEM. Wedbush upped their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Susquehanna boosted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Barclays boosted their target price 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. Finally, Benchmark boosted their target price on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $262.92 on Friday. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $233.92 and its two-hundred day moving average is $165.78. Tower Semiconductor Ltd. has a 12-month low of $37.48 and a 12-month high of $302.86. The stock has a market capitalization of $29.57 billion, a price-to-earnings ratio of 122.29 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The company had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. Research analysts expect that Tower Semiconductor Ltd. will post 2.84 EPS for the current 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.