Tower Semiconductor Ltd. $TSEM Shares Sold by OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 67.4% in the 4th quarter, according to the company in its most recent Form 13F filing 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. USA Financial Formulas acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at $27,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 300 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at $52,000. SBI Securities Co. Ltd. boosted its holdings in shares of Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 403 shares during the period. Finally, CoreCap Advisors LLC acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at $68,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $286.86 on Tuesday. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $235.70 and its two-hundred day moving average price is $167.60. Tower Semiconductor Ltd. has a 52 week low of $38.42 and a 52 week high of $302.86. The stock has a market cap of $32.26 billion, a PE ratio of 133.42 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The firm had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. During the same period in the previous year, the business earned $0.35 earnings per share. Tower Semiconductor’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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