OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 26,305 Shares of Tower Semiconductor Ltd. $TSEM

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 67.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,739 shares of the semiconductor company’s stock after selling 26,305 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tower Semiconductor were worth $1,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. USA Financial Formulas purchased a new position in shares of Tower Semiconductor during the fourth quarter valued at approximately $27,000. CIBC Private Wealth Group LLC boosted its position in shares of Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter worth approximately $52,000. SBI Securities Co. Ltd. grew its stake in shares of Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after buying an additional 403 shares during the last quarter. Finally, CoreCap Advisors LLC purchased a new stake in shares of Tower Semiconductor in the 4th quarter worth approximately $68,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

TSEM stock opened at $286.74 on Friday. The stock has a market capitalization of $32.24 billion, a P/E ratio of 133.37 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. Tower Semiconductor Ltd. has a 1-year low of $38.90 and a 1-year high of $302.86. The business has a fifty day moving average price of $242.23 and a 200-day moving average price of $171.98.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The company had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. During the same period last year, the firm posted $0.35 earnings per share. Tower Semiconductor’s revenue was up 15.5% compared to the same quarter last year. Equities analysts forecast that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on TSEM shares. Susquehanna lifted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Wedbush increased their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Benchmark raised their price target on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $276.75.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.