Bank Hapoalim BM Trims Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Bank Hapoalim BM lowered its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 11.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,500 shares of the semiconductor company’s stock after selling 570 shares during the period. Bank Hapoalim BM’s holdings in Tower Semiconductor were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new stake in Tower Semiconductor in the third quarter valued at approximately $27,000. USA Financial Formulas purchased a new stake in Tower Semiconductor in the third quarter valued at approximately $38,000. R Squared Ltd purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $61,000. Blue Trust Inc. raised its stake 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 last quarter. Finally, Signaturefd LLC raised its stake in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TSEM. Craig Hallum upped their price target on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna upped their price target on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a research note on Monday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.75.

Tower Semiconductor Trading Up 0.7 %

Shares of TSEM stock opened at $49.74 on Wednesday. The business’s fifty day moving average price is $50.59 and its 200 day moving average price is $45.48. Tower Semiconductor Ltd. has a 1-year low of $28.11 and a 1-year high of $55.31. The firm has a market capitalization of $5.51 billion, a PE ratio of 26.89 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share 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 firm had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Tower Semiconductor’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

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.