Waters Parkerson & CO. LLC Sells 1,532 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Waters Parkerson & CO. LLC lessened its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,483 shares of the semiconductor company’s stock after selling 1,532 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Tower Semiconductor were worth $10,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hodges Capital Management Inc. boosted its holdings in Tower Semiconductor by 21.2% in the first quarter. Hodges Capital Management Inc. now owns 141,700 shares of the semiconductor company’s stock worth $4,740,000 after acquiring an additional 24,800 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Tower Semiconductor in the 1st quarter valued at approximately $34,911,000. Artemis Investment Management LLP boosted its stake in Tower Semiconductor by 96.4% in the 1st quarter. Artemis Investment Management LLP now owns 219,573 shares of the semiconductor company’s stock worth $7,343,000 after purchasing an additional 107,787 shares in the last quarter. Eagle Global Advisors LLC grew its position in Tower Semiconductor by 8.2% during the 4th quarter. Eagle Global Advisors LLC now owns 79,223 shares of the semiconductor company’s stock worth $2,418,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Tower Semiconductor by 28.1% during the 1st quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company’s stock valued at $88,652,000 after purchasing an additional 580,610 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of 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 issued a $55.00 target price on shares of Tower Semiconductor in a research note on Monday, September 9th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $51.33.

Tower Semiconductor Trading Up 2.6 %

Shares of NASDAQ:TSEM opened at $41.62 on Friday. Tower Semiconductor Ltd. has a twelve month low of $21.43 and a twelve month high of $44.58. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $40.84 and its 200 day moving average is $37.29.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. The firm had revenue of $351.18 million for the quarter, compared to analyst estimates of $350.00 million. Analysts expect that Tower Semiconductor Ltd. will post 1.82 EPS for the current fiscal 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.