Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC decreased its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 64.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,795 shares of the semiconductor company’s stock after selling 10,346 shares during the period. SG Americas Securities LLC’s holdings in Tower Semiconductor were worth $134,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in Tower Semiconductor by 319.3% in the first quarter. JPMorgan Chase & Co. now owns 10,194 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 7,763 shares during the period. Quantbot Technologies LP raised its stake in shares of Tower Semiconductor by 140.5% in the first quarter. Quantbot Technologies LP now owns 25,690 shares of the semiconductor company’s stock worth $592,000 after buying an additional 15,010 shares during the last quarter. Bank Hapoalim BM raised its stake in shares of Tower Semiconductor by 3,115.2% in the first quarter. Bank Hapoalim BM now owns 949,687 shares of the semiconductor company’s stock worth $21,983,000 after buying an additional 920,150 shares during the last quarter. Oxford Asset Management acquired a new stake in shares of Tower Semiconductor during the first quarter worth $778,000. Finally, Trexquant Investment LP acquired a new stake in shares of Tower Semiconductor during the first quarter worth $291,000. Hedge funds and other institutional investors own 49.24% of the company’s stock.
Tower Semiconductor Ltd. (TSEM) traded up 1.27% during trading on Tuesday, reaching $25.50. The company had a trading volume of 636,949 shares. Tower Semiconductor Ltd. has a 12 month low of $14.77 and a 12 month high of $27.60. The firm’s 50 day moving average is $25.28 and its 200-day moving average is $23.48. The company has a market capitalization of $2.39 billion, a P/E ratio of 13.67 and a beta of 1.00.
Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Tower Semiconductor had a return on equity of 28.28% and a net margin of 14.53%. The business had revenue of $345.10 million during the quarter, compared to analyst estimates of $344.98 million. During the same period last year, the company earned $0.45 earnings per share. Tower Semiconductor’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities analysts expect that Tower Semiconductor Ltd. will post $2.05 earnings per share for the current year.
TSEM has been the subject of a number of analyst reports. TheStreet downgraded Tower Semiconductor from a “b-” rating to a “c” rating in a report on Monday, April 17th. BidaskClub downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $35.00 target price on shares of Tower Semiconductor in a research note on Wednesday, June 21st. Finally, ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.50.
Tower Semiconductor Company Profile
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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