Cresset Asset Management LLC Sells 4,835 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Cresset Asset Management LLC lessened its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 31.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,729 shares of the semiconductor company’s stock after selling 4,835 shares during the period. Cresset Asset Management LLC’s holdings in Tower Semiconductor were worth $553,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Tower Semiconductor by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company’s stock valued at $205,954,000 after purchasing an additional 42,969 shares in the last quarter. Invesco Ltd. increased its stake in Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company’s stock valued at $90,721,000 after purchasing an additional 1,260,683 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its stake in Tower Semiconductor by 16.4% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company’s stock valued at $69,307,000 after purchasing an additional 189,738 shares in the last quarter. William Blair Investment Management LLC increased its stake in Tower Semiconductor by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company’s stock valued at $53,456,000 after purchasing an additional 25,247 shares in the last quarter. Finally, 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 purchasing an additional 187,103 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on TSEM shares. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reissued a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Tower Semiconductor currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Stock Up 5.1%

Shares of TSEM stock opened at $42.14 on Thursday. The firm has a fifty day moving average of $36.28 and a 200-day moving average of $43.95. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 22.66 and a beta of 0.75.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. As a group, equities research analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal 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.