American Century Companies Inc. trimmed its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 25.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,738 shares of the semiconductor company’s stock after selling 11,035 shares during the quarter. American Century Companies Inc.’s holdings in Tower Semiconductor were worth $757,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Sei Investments Co. grew its holdings in Tower Semiconductor by 12.7% in the 1st quarter. Sei Investments Co. now owns 10,593 shares of the semiconductor company’s stock worth $244,000 after buying an additional 1,190 shares in the last quarter. Dupont Capital Management Corp grew its holdings in Tower Semiconductor by 24.4% in the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock worth $148,000 after buying an additional 1,219 shares in the last quarter. Stevens Capital Management LP grew its holdings in Tower Semiconductor by 15.8% in the 1st quarter. Stevens Capital Management LP now owns 21,138 shares of the semiconductor company’s stock worth $487,000 after buying an additional 2,880 shares in the last quarter. Swiss National Bank grew its holdings in Tower Semiconductor by 3.2% in the 1st quarter. Swiss National Bank now owns 137,766 shares of the semiconductor company’s stock worth $3,177,000 after buying an additional 4,270 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tower Semiconductor by 53.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,202 shares of the semiconductor company’s stock worth $281,000 after buying an additional 4,270 shares in the last quarter. 49.19% of the stock is owned by institutional investors and hedge funds.

TSEM has been the subject of a number of recent analyst reports. ValuEngine raised Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price objective on shares of Tower Semiconductor in a report on Friday, June 9th. Finally, BidaskClub raised Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $31.50.

Tower Semiconductor Ltd. (NASDAQ TSEM) opened at 30.02 on Monday. Tower Semiconductor Ltd. has a one year low of $14.83 and a one year high of $30.44. The company has a 50-day moving average price of $27.23 and a 200-day moving average price of $24.69. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 15.37 and a beta of 1.02.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. Tower Semiconductor had a net margin of 14.53% and a return on equity of 28.28%. The company had revenue of $345.10 million during the quarter, compared to analysts’ expectations of $344.98 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. Tower Semiconductor’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Tower Semiconductor Ltd. will post $2.05 EPS for the current year.

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Tower Semiconductor 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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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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