Oppenheimer & Co. Inc. Sells 430 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Oppenheimer & Co. Inc. lessened its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 4.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,250 shares of the semiconductor company’s stock after selling 430 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tower Semiconductor were worth $454,000 at the end of the most recent reporting period.

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

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $47.81 on Friday. The stock has a market cap of $5.30 billion, a PE ratio of 25.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The firm has a 50-day moving average of $44.01 and a 200-day moving average of $40.96. Tower Semiconductor Ltd. has a 52-week low of $27.11 and a 52-week high of $50.25.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.45 by $0.12. The company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Tower Semiconductor Company 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.