Tower Semiconductor Ltd. $TSEM Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 40.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,175 shares of the semiconductor company’s stock after selling 79,157 shares during the period. Russell Investments Group Ltd.’s holdings in Tower Semiconductor were worth $5,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Tower Semiconductor by 14.8% during the 2nd quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 227 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Tower Semiconductor by 4.2% during the first quarter. PNC Financial Services Group Inc. now owns 8,700 shares of the semiconductor company’s stock worth $310,000 after purchasing an additional 350 shares in the last quarter. Oak Associates Ltd. OH grew its holdings in Tower Semiconductor by 1.8% in the second quarter. Oak Associates Ltd. OH now owns 20,191 shares of the semiconductor company’s stock valued at $875,000 after purchasing an additional 350 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tower Semiconductor by 0.7% in the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after buying an additional 662 shares in the last quarter. Finally, Magnetar Financial LLC increased its position in shares of Tower Semiconductor by 14.0% in the first quarter. Magnetar Financial LLC now owns 6,663 shares of the semiconductor company’s stock valued at $238,000 after buying an additional 817 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Price Performance

NASDAQ:TSEM opened at $114.01 on Friday. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $119.82. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 66.28 and a beta of 0.88. The company’s 50-day moving average is $87.40 and its two-hundred day moving average is $62.89. The company has a current ratio of 6.61, a quick ratio of 5.54 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $395.67 million during the quarter, compared to analyst estimates of $394.98 million. Tower Semiconductor had a net margin of 12.92% and a return on equity of 7.16%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. Research analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on TSEM. Susquehanna boosted their price objective on shares of Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a research report on Tuesday, November 11th. Benchmark lifted their target price on shares of Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Wedbush increased their price target on shares of Tower Semiconductor from $85.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Barclays raised their price objective on shares of Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.25.

Tower Semiconductor Profile

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.