Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division lowered its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 2.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,834 shares of the semiconductor company’s stock after selling 366 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Tower Semiconductor were worth $745,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TSEM. The Manufacturers Life Insurance Company lifted its holdings in Tower Semiconductor by 18.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 516,172 shares of the semiconductor company’s stock worth $15,754,000 after buying an additional 78,712 shares in the last quarter. CastleKnight Management LP acquired a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $989,000. Analog Century Management LP acquired a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $13,643,000. Vanguard Group Inc. raised its stake in shares of Tower Semiconductor by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,726,278 shares of the semiconductor company’s stock valued at $113,726,000 after purchasing an additional 56,410 shares in the last quarter. Finally, DGS Capital Management LLC raised its stake in shares of Tower Semiconductor by 5.5% in the 1st quarter. DGS Capital Management LLC now owns 15,246 shares of the semiconductor company’s stock valued at $510,000 after purchasing an additional 789 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 0.5 %

Shares of NASDAQ:TSEM opened at $44.31 on Friday. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a fifty-two week low of $21.43 and a fifty-two week high of $45.00. The firm has a 50-day simple moving average of $41.22 and a 200 day simple moving average of $38.07.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. The business had revenue of $351.18 million during the quarter, compared to the consensus estimate of $350.00 million. On average, sell-side analysts predict that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSEM. StockNews.com lowered shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Monday, September 9th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tower Semiconductor currently has a consensus rating of “Buy” and a consensus target price of $51.33.

About Tower Semiconductor

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.