Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Bank Hapoalim BM

Bank Hapoalim BM trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,500 shares of the semiconductor company’s stock after selling 570 shares during the quarter. Bank Hapoalim BM’s holdings in Tower Semiconductor were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSEM. Crews Bank & Trust acquired a new position in Tower Semiconductor in the 4th quarter valued at about $134,000. R Squared Ltd acquired a new position in Tower Semiconductor in the 4th quarter valued at about $61,000. Hunter Perkins Capital Management LLC grew its position in Tower Semiconductor by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 21,655 shares of the semiconductor company’s stock valued at $1,115,000 after acquiring an additional 820 shares in the last quarter. Blue Trust Inc. grew its position in Tower Semiconductor by 45.7% in the 4th quarter. Blue Trust Inc. now owns 2,633 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 826 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Tower Semiconductor by 26.9% in the 4th quarter. Fifth Third Bancorp now owns 8,376 shares of the semiconductor company’s stock valued at $431,000 after acquiring an additional 1,773 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSEM has been the subject of several research reports. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday, November 14th. Craig Hallum boosted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Monday. Finally, Susquehanna boosted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $58.75.

Tower Semiconductor Price Performance

TSEM stock opened at $49.74 on Wednesday. The business has a 50 day moving average price of $50.59 and a 200 day moving average price of $45.48. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 26.89 and a beta of 0.88. Tower Semiconductor Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $55.31. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.12. The firm had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. Equities research analysts anticipate that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.