Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC lessened its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 38.2% in the 4th quarter, Holdings Channel reports. The firm owned 41,920 shares of the semiconductor company’s stock after selling 25,930 shares during the period. Cambiar Investors LLC’s holdings in Tower Semiconductor were worth $2,159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares during the last quarter. Y.D. More Investments Ltd increased its stake in shares of Tower Semiconductor by 27.5% in the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after acquiring an additional 187,103 shares during the last quarter. Summit Partners Public Asset Management LLC raised its holdings in shares of Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after acquiring an additional 1,376,315 shares during the period. Barclays PLC boosted its position in shares of Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after acquiring an additional 23,385 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Tower Semiconductor in the third quarter valued at about $11,094,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Down 2.5 %

Shares of Tower Semiconductor stock opened at $45.78 on Wednesday. The company has a fifty day simple moving average of $50.74 and a 200-day simple moving average of $45.75. Tower Semiconductor Ltd. has a 12-month low of $28.37 and a 12-month high of $55.31. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 24.75 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same period in the previous year, the business posted $0.47 earnings per share. Tower Semiconductor’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Tower Semiconductor Ltd. will post 1.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. 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 target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday. Finally, Craig Hallum boosted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Tower Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $60.00.

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.