Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 9.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,544,897 shares of the semiconductor company’s stock after selling 355,000 shares during the quarter. Tower Semiconductor comprises about 3.0% of Harel Insurance Investments & Financial Services Ltd.’s holdings, making the stock its 11th biggest holding. Harel Insurance Investments & Financial Services Ltd.’s holdings in Tower Semiconductor were worth $182,598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Truist Financial Corp lifted its holdings in Tower Semiconductor by 3.8% during the 2nd quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock worth $292,000 after buying an additional 273 shares in the last quarter. Signaturefd LLC raised 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 valued at $109,000 after purchasing an additional 431 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Tower Semiconductor by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock valued at $1,484,000 after buying an additional 522 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at $27,000. Finally, King Luther Capital Management Corp raised its stake in Tower Semiconductor by 0.3% during the 3rd quarter. King Luther Capital Management Corp now owns 225,107 shares of the semiconductor company’s stock worth $9,963,000 after acquiring an additional 695 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Susquehanna boosted their target price on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Thursday, November 14th. 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, StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $54.68 on Friday. The company has a market capitalization of $6.06 billion, a PE ratio of 29.49 and a beta of 0.89. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $50.17 and a 200-day simple moving average of $45.00. Tower Semiconductor Ltd. has a 52-week low of $28.11 and a 52-week high of $55.13.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results 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 company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. During the same period in the previous year, the business earned $0.47 earnings per share. Tower Semiconductor’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts predict that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

About Tower Semiconductor

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.