GABELLI & Co INVESTMENT ADVISERS INC. Cuts Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) – MarketBeat
GABELLI & Co INVESTMENT ADVISERS INC. decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report) by 62.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,402 shares of the semiconductor company’s stock after selling 189,515 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.10% of Tower Semiconductor worth $3,492,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Senvest Management LLC grew its holdings in Tower Semiconductor by 58.8% in the fourth quarter. Senvest Management LLC now owns 7,174,598 shares of the semiconductor company’s stock valued at $218,969,000 after purchasing an additional 2,657,777 shares during the period. Vanguard Group Inc. boosted its position in Tower Semiconductor by 2.1% during the third quarter. Vanguard Group Inc. now owns 3,669,868 shares of the semiconductor company’s stock worth $90,132,000 after acquiring an additional 74,264 shares during the last quarter. Phoenix Holdings Ltd. grew its stake in Tower Semiconductor by 7.0% during the 3rd quarter. Phoenix Holdings Ltd. now owns 3,668,022 shares of the semiconductor company’s stock valued at $90,089,000 after acquiring an additional 239,518 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Tower Semiconductor by 83.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock valued at $96,456,000 after acquiring an additional 1,437,535 shares during the last quarter. Finally, Baupost Group LLC MA purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $69,996,000. Institutional investors and hedge funds own 70.51% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently commented on TSEM. Craig Hallum increased their price target on Tower Semiconductor from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, May 10th. Susquehanna upgraded Tower Semiconductor from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $36.00 to $55.00 in a report on Friday, May 10th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of Tower Semiconductor in a report on Friday, May 10th. TheStreet upgraded shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a research report on Friday, March 8th. Finally, StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $46.33.
View Our Latest Stock Report on TSEM
Tower Semiconductor Trading Up 1.1 %
Shares of TSEM traded up $0.41 during trading on Thursday, reaching $37.93. 312,416 shares of the company traded hands, compared to its average volume of 581,499. The stock has a 50-day simple moving average of $34.55 and a 200-day simple moving average of $31.87. The stock has a market cap of $4.15 billion, a PE ratio of 8.60 and a beta of 0.90. Tower Semiconductor Ltd. has a twelve month low of $21.43 and a twelve month high of $41.35. The company has a quick ratio of 4.46, a current ratio of 5.38 and a debt-to-equity ratio of 0.06.
Tower Semiconductor (NASDAQ:TSEM – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. The business had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $325.00 million. On average, analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.
Tower Semiconductor Company Profile
(Free Report)
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.
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