Penserra Capital Management LLC Trims Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Penserra Capital Management LLC trimmed its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 107,318 shares of the semiconductor company’s stock after selling 1,262 shares during the period. Penserra Capital Management LLC owned approximately 0.10% of Tower Semiconductor worth $4,749,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSEM. King Luther Capital Management Corp raised its holdings in Tower Semiconductor by 0.3% in the 3rd quarter. King Luther Capital Management Corp now owns 225,107 shares of the semiconductor company’s stock valued at $9,963,000 after buying an additional 695 shares during the period. Jennison Associates LLC raised its stake in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock valued at $123,529,000 after acquiring an additional 40,038 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Tower Semiconductor by 12.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 12,820 shares of the semiconductor company’s stock worth $567,000 after acquiring an additional 1,451 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Tower Semiconductor during the 3rd quarter worth approximately $330,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in Tower Semiconductor by 1.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Trading Up 0.0 %

TSEM opened at $47.83 on Monday. The business has a fifty day moving average price of $44.22 and a 200 day moving average price of $41.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. Tower Semiconductor Ltd. has a 12 month low of $27.11 and a 12 month high of $50.25. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 25.85 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. During the same period in the previous year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts expect that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on TSEM shares. Craig Hallum raised their price target on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday, November 14th. Susquehanna increased their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor 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.