Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lessened its position 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 firm 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.

A number of other institutional investors have also recently made changes to their positions in the business. Y.D. More Investments Ltd grew its stake in Tower Semiconductor by 9,622.0% in the 2nd quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company’s stock valued at $35,952,000 after acquiring an additional 902,546 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Tower Semiconductor by 169.0% during the second quarter. Point72 Asset Management L.P. now owns 1,022,121 shares of the semiconductor company’s stock valued at $40,180,000 after purchasing an additional 642,121 shares during the period. Meitav Investment House Ltd. lifted its stake in shares of Tower Semiconductor by 25.6% in the second quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock worth $95,686,000 after acquiring an additional 495,380 shares in the last quarter. Boston Partners grew its position in shares of Tower Semiconductor by 453.9% during the first quarter. Boston Partners now owns 328,843 shares of the semiconductor company’s stock worth $10,995,000 after buying an additional 269,476 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Tower Semiconductor in the 3rd quarter worth about $11,094,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Up 2.5 %

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

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, analysts forecast that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Susquehanna upped their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor 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 report on Tuesday, November 12th. Finally, Craig Hallum increased their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Moderate Buy” and an average 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.