Swiss National Bank Reduces Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Swiss National Bank reduced its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 218,172 shares of the semiconductor company’s stock after selling 1,570 shares during the period. Swiss National Bank’s holdings in Tower Semiconductor were worth $9,683,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSEM. Transcendent Capital Group LLC purchased a new position in shares of Tower Semiconductor in the third quarter worth about $27,000. USA Financial Formulas purchased a new position in Tower Semiconductor in the 3rd quarter valued at approximately $38,000. Blue Trust Inc. raised its holdings in Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,376 shares during the period. Signaturefd LLC lifted its position in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Tower Semiconductor in the first quarter worth $164,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Up 0.0 %

Shares of NASDAQ TSEM opened at $47.83 on Monday. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $44.22 and a 200-day moving average of $41.15. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 25.85 and a beta of 0.90. Tower Semiconductor Ltd. has a 12 month low of $27.11 and a 12 month high of $50.25.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The business had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 EPS. Sell-side analysts expect that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSEM. Susquehanna increased their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Craig Hallum boosted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

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.