Tower Semiconductor (NASDAQ:TSEM) Director Yoav Chelouche Sells 232 Shares

Tower Semiconductor Ltd. (NASDAQ:TSEM) Director Yoav Chelouche sold 232 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $215.06, for a total value of $49,893.92. Following the completion of the sale, the director directly owned 33,734 shares in the company, valued at $7,254,834.04. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $191.12 on Tuesday. The company has a quick ratio of 4.31, a current ratio of 4.91 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $227.11 and its two-hundred day moving average is $218.35. The company has a market cap of $21.49 billion, a P/E ratio of 75.54 and a beta of 0.88. Tower Semiconductor Ltd. has a 12 month low of $64.83 and a 12 month high of $319.94.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.12. The company had revenue of $460.08 million during the quarter, compared to analysts’ expectations of $454.68 million. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.Tower Semiconductor’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. On average, equities analysts expect that Tower Semiconductor Ltd. will post 3.58 EPS for the current year.

Institutional Investors Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. Covestor Ltd grew its stake in shares of Tower Semiconductor by 10.8% in the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 77 shares during the period. Silverleafe Capital Partners LLC lifted its position in shares of Tower Semiconductor by 3.0% during the 2nd quarter. Silverleafe Capital Partners LLC now owns 2,860 shares of the semiconductor company’s stock worth $745,000 after buying an additional 84 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Tower Semiconductor by 8.1% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,428 shares of the semiconductor company’s stock worth $372,000 after buying an additional 107 shares during the period. TD Waterhouse Canada Inc. grew its position in Tower Semiconductor by 230.7% in the second quarter. TD Waterhouse Canada Inc. now owns 334 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 233 shares during the period. Finally, Hanson & Doremus Investment Management acquired a new position in Tower Semiconductor during the first quarter worth $53,000. Institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group restated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Benchmark reiterated a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, August 5th. Weiss Ratings downgraded Tower Semiconductor from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. National Bank Financial raised Tower Semiconductor to a “buy” rating in a research report on Friday, August 7th. Finally, Barclays upgraded Tower Semiconductor from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tower Semiconductor currently has an average rating of “Moderate Buy” and a consensus price target of $290.67.

About Tower Semiconductor

Tower Semiconductor Ltd. (NASDAQ:TSEM) is a specialty semiconductor foundry that manufactures integrated circuits for fabless chip companies, integrated device manufacturers and original equipment manufacturers. The company focuses on analog and mixed-signal technologies rather than high-volume digital logic, providing process development, wafer manufacturing, design enablement and other foundry services.

Its technology portfolio includes radio-frequency and high-performance analog circuits, power management, CMOS image sensors, medical and industrial sensors, silicon photonics, microelectromechanical systems (MEMS), and automotive and industrial semiconductor solutions.