Analog Century Management LP Sells 113,732 Shares of Tower Semiconductor Ltd. $TSEM

Analog Century Management LP trimmed its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 811,470 shares of the semiconductor company’s stock after selling 113,732 shares during the quarter. Tower Semiconductor accounts for 4.7% of Analog Century Management LP’s portfolio, making the stock its 11th biggest holding. Analog Century Management LP’s holdings in Tower Semiconductor were worth $95,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSEM. Amundi increased its holdings in Tower Semiconductor by 86.8% in the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock worth $771,000 after buying an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Tower Semiconductor by 4.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock worth $3,553,000 after buying an additional 3,954 shares during the last quarter. Geode Capital Management LLC raised its position in Tower Semiconductor by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock worth $4,135,000 after buying an additional 662 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Tower Semiconductor in the 2nd quarter worth about $438,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Tower Semiconductor in the 2nd quarter worth about $5,809,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Stock Up 1.8%

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wedbush boosted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Susquehanna boosted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Finally, Benchmark boosted their target price on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $276.75.

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.