Altshuler Shaham Ltd Sells 6,768 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Altshuler Shaham Ltd lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 30.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,374 shares of the semiconductor company’s stock after selling 6,768 shares during the period. Altshuler Shaham Ltd’s holdings in Tower Semiconductor were worth $605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC purchased a new position in Tower Semiconductor during the 4th quarter valued at about $393,000. Quadrant Capital Group LLC increased its holdings in Tower Semiconductor by 34.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after buying an additional 413 shares during the period. Norges Bank bought a new position in Tower Semiconductor in the fourth quarter worth approximately $45,303,000. Theleme Partners LLP purchased a new stake in Tower Semiconductor during the fourth quarter worth $67,717,000. Finally, The Manufacturers Life Insurance Company boosted its position in Tower Semiconductor by 18.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 516,172 shares of the semiconductor company’s stock valued at $15,754,000 after acquiring an additional 78,712 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Stock Up 1.7 %

TSEM stock opened at $42.31 on Monday. The stock has a market capitalization of $4.62 billion, a PE ratio of 9.59 and a beta of 0.90. Tower Semiconductor Ltd. has a 52 week low of $21.43 and a 52 week high of $44.58. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $40.85 and a 200 day moving average of $37.41.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Monday, September 9th. StockNews.com downgraded Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 19th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tower Semiconductor has an average rating of “Buy” and an average target price of $51.33.

Tower Semiconductor 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.