Atom Investors LP Trims Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Atom Investors LP decreased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 57.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,424 shares of the semiconductor company’s stock after selling 44,646 shares during the quarter. Atom Investors LP’s holdings in Tower Semiconductor were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truist Financial Corp boosted its holdings in Tower Semiconductor by 3.8% in the 2nd quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock valued at $292,000 after purchasing an additional 273 shares during the last quarter. Signaturefd LLC grew its position in Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares during the period. TD Asset Management Inc increased its stake in Tower Semiconductor by 3.2% during the second quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company’s stock worth $623,000 after acquiring an additional 506 shares during the last quarter. Van ECK Associates Corp raised its position in Tower Semiconductor by 1.6% in the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock valued at $1,484,000 after purchasing an additional 522 shares during the period. Finally, Transcendent Capital Group LLC acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at $27,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Craig Hallum lifted their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Susquehanna upped their price target on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Stock Up 1.6 %

Shares of Tower Semiconductor stock opened at $47.87 on Tuesday. 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 Ltd. has a 52-week low of $27.15 and a 52-week high of $50.25. The company has a market capitalization of $5.30 billion, a P/E ratio of 25.88 and a beta of 0.92. The company has a 50 day moving average of $44.94 and a 200 day moving average of $41.66.

Tower Semiconductor (NASDAQ:TSEM) last released 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 business had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. During the same period in the previous year, the company earned $0.47 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Tower Semiconductor Ltd. will post 1.77 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.