Robertson Opportunity Capital LLC trimmed its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,000 shares of the semiconductor company’s stock after selling 7,000 shares during the quarter. Tower Semiconductor accounts for about 2.7% of Robertson Opportunity Capital LLC’s portfolio, making the stock its 16th biggest holding. Robertson Opportunity Capital LLC owned 0.14% of Tower Semiconductor worth $4,601,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates lifted its stake in Tower Semiconductor by 28.3% during the fourth quarter. Raymond James & Associates now owns 154,347 shares of the semiconductor company’s stock valued at $5,301,000 after buying an additional 34,024 shares in the last quarter. Two Sigma Investments LP lifted its stake in Tower Semiconductor by 129.9% during the fourth quarter. Two Sigma Investments LP now owns 60,265 shares of the semiconductor company’s stock valued at $2,054,000 after buying an additional 34,056 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Tower Semiconductor by 3.0% during the fourth quarter. Two Sigma Advisers LP now owns 374,318 shares of the semiconductor company’s stock valued at $12,757,000 after buying an additional 11,000 shares in the last quarter. Ellington Management Group LLC purchased a new stake in Tower Semiconductor during the fourth quarter valued at about $290,000. Finally, Goldman Sachs Group Inc. lifted its stake in Tower Semiconductor by 91.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 142,627 shares of the semiconductor company’s stock valued at $4,861,000 after buying an additional 67,955 shares in the last quarter. 47.71% of the stock is owned by institutional investors.
A number of research firms have commented on TSEM. Credit Suisse Group upped their price objective on shares of Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 15th. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Needham & Company LLC upped their price objective on shares of Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 30th. BidaskClub lowered shares of Tower Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $46.00 price objective on shares of Tower Semiconductor in a research note on Wednesday, November 29th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $43.75.
Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $358.00 million for the quarter, compared to the consensus estimate of $358.10 million. Tower Semiconductor had a return on equity of 26.17% and a net margin of 21.48%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. sell-side analysts forecast that Tower Semiconductor Ltd. will post 2.17 earnings per share for the current fiscal year.
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Tower Semiconductor Company Profile
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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