Analog Century Management LP Trims Position in Tower Semiconductor Ltd. $TSEM

Analog Century Management LP cut its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 811,470 shares of the semiconductor company’s stock after selling 113,732 shares during the period. Tower Semiconductor accounts for 4.7% of Analog Century Management LP’s portfolio, making the stock its 11th biggest position. Analog Century Management LP’s holdings in Tower Semiconductor were worth $95,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TSEM. Kestra Advisory Services LLC purchased a new stake in Tower Semiconductor in the fourth quarter worth $52,000. FORA Capital LLC purchased a new stake in Tower Semiconductor in the fourth quarter worth $522,000. Marshall Wace LLP purchased a new stake in Tower Semiconductor in the fourth quarter worth $72,626,000. Morgan Stanley grew its stake in Tower Semiconductor by 45.7% in the fourth quarter. Morgan Stanley now owns 642,254 shares of the semiconductor company’s stock worth $75,414,000 after purchasing an additional 201,513 shares during the period. Finally, Rokos Capital Management LLP purchased a new stake in Tower Semiconductor in the fourth quarter worth $23,989,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Up 1.8%

Tower Semiconductor stock opened at $262.92 on Friday. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $233.92 and its two-hundred day simple moving average is $165.78. Tower Semiconductor Ltd. has a 12 month low of $37.48 and a 12 month high of $302.86. The company has a market capitalization of $29.57 billion, a price-to-earnings ratio of 122.29 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The business had revenue of $413.63 million for the quarter, compared to the consensus estimate of $410.72 million. During the same period in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSEM. Benchmark upped their price target on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Wedbush upped their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Susquehanna upped their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Profile

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.