Tectonic Advisors LLC Has $898,000 Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Tectonic Advisors LLC trimmed its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 27.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,431 shares of the semiconductor company’s stock after selling 6,696 shares during the period. Tectonic Advisors LLC’s holdings in Tower Semiconductor were worth $898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Senvest Management LLC raised its holdings in Tower Semiconductor by 1.7% in the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock worth $368,262,000 after purchasing an additional 138,807 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Tower Semiconductor by 1.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after acquiring an additional 50,000 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Tower Semiconductor by 203.8% in the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after acquiring an additional 2,083,262 shares during the period. Jennison Associates LLC increased its holdings in shares of Tower Semiconductor by 1.5% in the third quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock worth $123,529,000 after acquiring an additional 40,038 shares in the last quarter. Finally, Meitav Investment House Ltd. raised its position in shares of Tower Semiconductor by 5.1% during the third quarter. Meitav Investment House Ltd. now owns 2,555,530 shares of the semiconductor company’s stock worth $113,220,000 after purchasing an additional 123,713 shares during the period. Institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Monday. Susquehanna raised their price objective 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. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. Craig Hallum lifted their price target 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, StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Tower Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $58.75.

Tower Semiconductor Price Performance

NASDAQ:TSEM opened at $50.22 on Thursday. Tower Semiconductor Ltd. has a 52-week low of $28.11 and a 52-week high of $55.31. The company has a market cap of $5.57 billion, a P/E ratio of 27.15 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The stock’s 50-day simple moving average is $50.62 and its 200 day simple moving average is $45.55.

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

Tower Semiconductor 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.