Arvin Capital Management LP Sells 128,236 Shares of Tower Semiconductor Ltd. $TSEM

Arvin Capital Management LP reduced its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 42.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 170,976 shares of the semiconductor company’s stock after selling 128,236 shares during the quarter. Tower Semiconductor makes up 2.2% of Arvin Capital Management LP’s investment portfolio, making the stock its 17th largest holding. Arvin Capital Management LP’s holdings in Tower Semiconductor were worth $12,362,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Royce & Associates LP bought a new position in shares of Tower Semiconductor in the third quarter valued at approximately $8,127,000. Argent Trust Co acquired a new position in Tower Semiconductor in the 3rd quarter valued at $287,000. AlphaCore Capital LLC acquired a new position in Tower Semiconductor in the 3rd quarter valued at $226,000. Neumeier Poma Investment Counsel LLC raised its holdings in Tower Semiconductor by 9.3% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 781,368 shares of the semiconductor company’s stock worth $56,493,000 after acquiring an additional 66,333 shares during the period. Finally, US Bancorp DE lifted its position in Tower Semiconductor by 168.7% during the 3rd quarter. US Bancorp DE now owns 6,578 shares of the semiconductor company’s stock worth $476,000 after acquiring an additional 4,130 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Benchmark raised their price target on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Barclays lifted their price target on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Wedbush increased their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of Tower Semiconductor in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Tower Semiconductor currently has an average rating of “Hold” and a consensus price target of $156.75.

Tower Semiconductor Stock Down 9.4%

TSEM opened at $125.53 on Wednesday. The stock’s 50 day simple moving average is $127.66 and its 200-day simple moving average is $98.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $440.21 million for the quarter, compared to the consensus estimate of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 earnings per share. On average, analysts expect that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

About Tower Semiconductor

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.