272 Capital LP Lowers Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

272 Capital LP decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 43.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,150 shares of the semiconductor company’s stock after selling 56,180 shares during the period. Tower Semiconductor comprises approximately 1.4% of 272 Capital LP’s portfolio, making the stock its 28th largest position. 272 Capital LP’s holdings in Tower Semiconductor were worth $2,876,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in shares of Tower Semiconductor by 34.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after purchasing an additional 413 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Tower Semiconductor in the second quarter valued at $177,000. State Board of Administration of Florida Retirement System acquired a new stake in Tower Semiconductor in the first quarter valued at $164,000. ProShare Advisors LLC purchased a new stake in Tower Semiconductor during the 1st quarter worth about $243,000. Finally, Magnetar Financial LLC acquired a new position in shares of Tower Semiconductor during the 2nd quarter worth about $377,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Monday, September 9th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Buy” and an average target price of $51.33.

Tower Semiconductor Stock Down 0.3 %

Shares of NASDAQ:TSEM opened at $42.18 on Tuesday. Tower Semiconductor Ltd. has a 1-year low of $21.43 and a 1-year high of $44.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. The stock has a market cap of $4.61 billion, a P/E ratio of 9.56 and a beta of 0.90. The firm has a fifty day moving average price of $40.86 and a 200 day moving average price of $37.48.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $351.18 million during the quarter, compared to the consensus estimate of $350.00 million. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. Sell-side analysts predict that Tower Semiconductor Ltd. will post 1.82 EPS for the current year.

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.