Tower Semiconductor Ltd. $TSEM Shares Sold by Arvin Capital Management LP

Arvin Capital Management LP trimmed its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 74.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,135 shares of the semiconductor company’s stock after selling 126,841 shares during the period. Tower Semiconductor accounts for about 1.0% of Arvin Capital Management LP’s investment portfolio, making the stock its 24th biggest holding. Arvin Capital Management LP’s holdings in Tower Semiconductor were worth $5,182,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. USA Financial Formulas acquired a new position in Tower Semiconductor in the fourth quarter worth about $27,000. CIBC Private Wealth Group LLC lifted its holdings in Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new position in Tower Semiconductor in the third quarter worth about $48,000. Kestra Advisory Services LLC bought a new position in Tower Semiconductor in the fourth quarter worth about $52,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Tower Semiconductor by 344.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 403 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Up 1.8%

TSEM opened at $262.92 on Friday. Tower Semiconductor Ltd. has a 12 month low of $37.48 and a 12 month high of $302.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The stock has a market cap of $29.57 billion, a P/E ratio of 122.29 and a beta of 0.87. The stock’s 50 day moving average price is $233.92 and its 200 day moving average price is $165.78.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The firm had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, research analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on TSEM shares. Susquehanna raised their target price 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. Benchmark raised their target price 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, Wedbush raised their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Tower Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $276.75.

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.