Tower Semiconductor Ltd. (NASDAQ:TSEM) Position Reduced by Centiva Capital LP

Centiva Capital LP lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 22.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,620 shares of the semiconductor company’s stock after selling 3,629 shares during the period. Centiva Capital LP’s holdings in Tower Semiconductor were worth $559,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in Tower Semiconductor in the third quarter valued at about $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $38,000. Blue Trust Inc. raised its position in shares of Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,376 shares in the last quarter. Signaturefd LLC lifted its stake in 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. Finally, Scientech Research LLC acquired a new position in Tower Semiconductor in the second quarter worth $200,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Up 0.6 %

Tower Semiconductor stock opened at $49.82 on Friday. The firm has a market capitalization of $5.52 billion, a P/E ratio of 26.93 and a beta of 0.92. The company has a 50-day simple moving average of $45.43 and a 200-day simple moving average of $41.98. Tower Semiconductor Ltd. has a one year low of $27.99 and a one year high of $50.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.45 by $0.12. The firm had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. Tower Semiconductor’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts expect that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSEM. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Susquehanna raised their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Craig Hallum lifted their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Company Profile

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.