Menora Mivtachim Holdings LTD. Reduces Holdings in Tower Semiconductor Ltd. $TSEM

Menora Mivtachim Holdings LTD. trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 16.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,703,343 shares of the semiconductor company’s stock after selling 323,964 shares during the quarter. Menora Mivtachim Holdings LTD. owned approximately 1.54% of Tower Semiconductor worth $123,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSEM. Arrowstreet Capital Limited Partnership raised its position in Tower Semiconductor by 26.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 168,982 shares of the semiconductor company’s stock worth $12,197,000 after acquiring an additional 35,054 shares during the period. Pier Capital LLC bought a new stake in shares of Tower Semiconductor during the 3rd quarter valued at $3,717,000. Invesco Ltd. increased its stake in shares of Tower Semiconductor by 12.5% in the 3rd quarter. Invesco Ltd. now owns 1,596,815 shares of the semiconductor company’s stock worth $115,450,000 after purchasing an additional 176,998 shares in the last quarter. Sei Investments Co. increased its stake in shares of Tower Semiconductor by 168.6% in the 3rd quarter. Sei Investments Co. now owns 71,287 shares of the semiconductor company’s stock worth $5,154,000 after purchasing an additional 44,747 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Tower Semiconductor by 68.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,382 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 5,440 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $118.54 on Friday. The firm has a fifty day moving average price of $127.29 and a 200 day moving average price of $101.57. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $149.57. The firm has a market cap of $13.33 billion, a price-to-earnings ratio of 61.42 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. The firm had revenue of $440.21 million for the quarter, compared to analysts’ expectations of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. As a group, sell-side analysts expect that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush upped their price target on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Barclays boosted their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Susquehanna reissued a “positive” rating and issued a $180.00 target price on shares of Tower Semiconductor in a report on Thursday, February 12th. Finally, Benchmark raised their target price on shares of Tower Semiconductor from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tower Semiconductor presently has an average rating of “Hold” and an average price target of $156.75.

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.