Cambiar Investors LLC Sells 25,930 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Cambiar Investors LLC lowered its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 38.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,920 shares of the semiconductor company’s stock after selling 25,930 shares during the period. Cambiar Investors LLC’s holdings in Tower Semiconductor were worth $2,159,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Telligent Fund LP bought a new position in shares of Tower Semiconductor during the 4th quarter worth $1,288,000. Y.D. More Investments Ltd increased its stake in Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after acquiring an additional 187,103 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Tower Semiconductor during the 4th quarter valued at about $134,000. R Squared Ltd bought a new stake in shares of Tower Semiconductor in the 4th quarter worth approximately $61,000. Finally, Hunter Perkins Capital Management LLC boosted its position in Tower Semiconductor by 3.9% during the fourth quarter. Hunter Perkins Capital Management LLC now owns 21,655 shares of the semiconductor company’s stock valued at $1,115,000 after buying an additional 820 shares during the period. 70.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TSEM has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday. Craig Hallum boosted their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday. Susquehanna lifted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Tower Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Performance

Shares of NASDAQ:TSEM opened at $45.78 on Wednesday. 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 firm has a market cap of $5.07 billion, a PE ratio of 24.75 and a beta of 0.88. The firm’s 50 day simple moving average is $50.74 and its 200-day simple moving average is $45.75. Tower Semiconductor Ltd. has a one year low of $28.37 and a one year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.45 by $0.12. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. As a group, equities analysts predict that Tower Semiconductor Ltd. will post 1.81 EPS for the current year.

About Tower Semiconductor

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.