OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Tower Semiconductor Ltd. $TSEM

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 67.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,739 shares of the semiconductor company’s stock after selling 26,305 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tower Semiconductor were worth $1,496,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSEM. USA Financial Formulas bought a new position in shares of Tower Semiconductor in the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC raised its holdings in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Tower Semiconductor during the 4th quarter valued at $52,000. SBI Securities Co. Ltd. boosted its position in Tower Semiconductor by 344.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 403 shares during the period. Finally, CoreCap Advisors LLC purchased a new stake in Tower Semiconductor during the 4th quarter valued at $68,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSEM. Susquehanna raised their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Benchmark increased their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wedbush raised their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $286.74 on Friday. The firm has a market capitalization of $32.24 billion, a P/E ratio of 133.37 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The stock has a 50 day moving average price of $242.23 and a 200-day moving average price of $171.98. Tower Semiconductor Ltd. has a 52-week low of $38.90 and a 52-week high of $302.86.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. The company had revenue of $413.63 million for the quarter, compared to analyst estimates of $410.72 million. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts anticipate that Tower Semiconductor Ltd. will post 2.84 EPS for the current fiscal year.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.