Tower Semiconductor Ltd. $TSEM is Clal Insurance Enterprises Holdings Ltd’s 6th Largest Position

Clal Insurance Enterprises Holdings Ltd trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,822,838 shares of the semiconductor company’s stock after selling 572,722 shares during the period. Tower Semiconductor accounts for about 3.6% of Clal Insurance Enterprises Holdings Ltd’s holdings, making the stock its 6th largest holding. Clal Insurance Enterprises Holdings Ltd’s holdings in Tower Semiconductor were worth $564,944,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Tower Semiconductor by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock worth $507,317,000 after buying an additional 53,112 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after buying an additional 25,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Tower Semiconductor by 214.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after buying an additional 1,505,421 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Tower Semiconductor by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after buying an additional 15,461 shares during the last quarter. Finally, Capital International Investors purchased a new stake in Tower Semiconductor during the 4th quarter worth about $222,530,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Up 1.8%

Shares of NASDAQ TSEM opened at $262.92 on Friday. The stock has a market cap of $29.57 billion, a PE ratio of 122.29 and a beta of 0.87. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. Tower Semiconductor Ltd. has a 52-week low of $37.48 and a 52-week high of $302.86. The business has a 50-day moving average price of $233.92 and a 200 day moving average price of $165.78.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSEM. Benchmark lifted their price target on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Barclays boosted their target price on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Wedbush upped their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Susquehanna upped their target price on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $276.75.

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.