OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Tower Semiconductor Ltd. $TSEM

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 67.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,739 shares of the semiconductor company’s stock after selling 26,305 shares during the period. 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 SEC filing.

Other hedge funds also recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC grew its position 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 worth $30,000 after buying an additional 300 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $52,000. SBI Securities Co. Ltd. grew its position 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 worth $61,000 after buying an additional 403 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

TSEM has been the subject of a number of recent analyst reports. Wedbush raised their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Benchmark lifted their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” 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 stock a “positive” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $286.86 on Tuesday. The company has a market cap of $32.26 billion, a PE ratio of 133.42 and a beta of 0.87. The company has a fifty day moving average price of $235.70 and a two-hundred day moving average price of $167.60. 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 12 month low of $38.42 and a 12 month high of $302.86.

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

Tower Semiconductor Profile

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.