Tower Semiconductor Ltd. (NASDAQ:TSEM) Position Lessened by Legato Capital Management LLC

Legato Capital Management LLC reduced its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,146 shares of the semiconductor company’s stock after selling 1,842 shares during the quarter. Legato Capital Management LLC’s holdings in Tower Semiconductor were worth $1,295,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new position in shares of Tower Semiconductor during the third quarter valued at $27,000. R Squared Ltd acquired a new position in Tower Semiconductor during the 4th quarter valued at about $61,000. Blue Trust Inc. grew its position in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC grew its position in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares during the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $134,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSEM. Susquehanna boosted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday. Craig Hallum upped their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Trading Down 0.5 %

Shares of Tower Semiconductor stock opened at $45.53 on Thursday. The business has a fifty day simple moving average of $50.68 and a 200-day simple moving average of $45.77. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 24.61 and a beta of 0.88. Tower Semiconductor Ltd. has a fifty-two week low of $28.37 and a fifty-two week high of $55.31. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The firm had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. During the same period last year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Tower Semiconductor Ltd. will post 1.81 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.