Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Sells 368,343 Shares of Tower Semiconductor Ltd. $TSEM

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management reduced its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 45.1% during the 4th quarter, HoldingsChannel reports. The firm owned 447,991 shares of the semiconductor company’s stock after selling 368,343 shares during the quarter. Tower Semiconductor comprises about 7.3% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 5th biggest position. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s holdings in Tower Semiconductor were worth $52,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Calamos Advisors LLC grew its position in shares of Tower Semiconductor by 156.0% in the fourth quarter. Calamos Advisors LLC now owns 24,743 shares of the semiconductor company’s stock valued at $2,905,000 after purchasing an additional 15,079 shares during the last quarter. WT Asset Management Ltd acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $78,967,000. Rockingstone Advisors LLC acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $5,296,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in Tower Semiconductor by 2.6% in the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 131 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

TSEM stock opened at $199.96 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. The company has a 50 day moving average price of $163.10 and a 200 day moving average price of $127.59. Tower Semiconductor Ltd. has a fifty-two week low of $34.73 and a fifty-two week high of $228.73. The stock has a market capitalization of $22.49 billion, a PE ratio of 103.61 and a beta of 0.71.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The firm had revenue of $440.21 million during the quarter, compared to analysts’ expectations of $439.81 million. During the same quarter in the previous year, the company posted $0.49 EPS. Tower Semiconductor’s revenue was up 13.7% on a year-over-year basis. Analysts forecast that Tower Semiconductor Ltd. will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

TSEM has been the topic of a number of recent research reports. Benchmark lifted their target price on Tower Semiconductor from $165.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Wedbush lifted their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Susquehanna reaffirmed a “positive” rating and set a $180.00 price objective on shares of Tower Semiconductor in a report on Thursday, February 12th. Finally, Barclays lifted their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $173.00.

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.