LMR Partners LLP Sells 2,536 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

LMR Partners LLP reduced its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 32.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,245 shares of the semiconductor company’s stock after selling 2,536 shares during the period. LMR Partners LLP’s holdings in Tower Semiconductor were worth $232,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in Tower Semiconductor during the 3rd quarter worth approximately $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $38,000. Blue Trust Inc. raised its position in shares of Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC lifted its holdings in shares of Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Tower Semiconductor in the 1st quarter valued at $164,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSEM. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Susquehanna raised their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating 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 report on Thursday, November 14th. Finally, Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Trading Down 0.2 %

Shares of TSEM stock opened at $46.65 on Thursday. The company has a 50-day simple moving average of $43.92 and a two-hundred day simple moving average of $40.92. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 25.28 and a beta of 0.90. Tower Semiconductor Ltd. has a 52-week low of $27.11 and a 52-week high of $50.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same period in the previous year, the business posted $0.47 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts anticipate that Tower Semiconductor Ltd. will post 1.82 EPS for the current fiscal year.

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.