Artemis Investment Management LLP Sells 17,235 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Artemis Investment Management LLP trimmed its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,482 shares of the semiconductor company's stock after selling 17,235 shares during the period. Artemis Investment Management LLP owned approximately 0.18% of Tower Semiconductor worth $10,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Tower Semiconductor by 23.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 18,129 shares of the semiconductor company's stock worth $713,000 after purchasing an additional 3,417 shares during the period. Sei Investments Co. bought a new position in Tower Semiconductor during the second quarter valued at about $1,148,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Tower Semiconductor by 1.0% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,958,981 shares of the semiconductor company's stock valued at $77,008,000 after acquiring an additional 20,347 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Tower Semiconductor by 30.3% in the 2nd quarter. ProShare Advisors LLC now owns 9,459 shares of the semiconductor company's stock worth $372,000 after acquiring an additional 2,202 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in shares of Tower Semiconductor during the 2nd quarter worth approximately $377,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Up 0.7 %

Shares of NASDAQ:TSEM traded up $0.36 during midday trading on Monday, reaching $52.58. The company had a trading volume of 374,404 shares, compared to its average volume of 520,671. The business's 50 day moving average price is $49.73 and its 200 day moving average price is $44.74. Tower Semiconductor Ltd. has a 1-year low of $28.11 and a 1-year high of $54.27. 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 stock has a market cap of $5.83 billion, a PE ratio of 28.42 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. During the same quarter last year, the firm posted $0.47 EPS. The company's quarterly revenue was up 3.4% on a year-over-year basis. Research analysts forecast that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSEM shares. Benchmark reissued a "buy" rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. Craig Hallum upped their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Susquehanna lifted their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Finally, StockNews.com lowered Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $58.33.

Tower Semiconductor Profile

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.