Harel Insurance Investments & Financial Services Ltd. Decreases Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Harel Insurance Investments & Financial Services Ltd. lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,544,897 shares of the semiconductor company's stock after selling 355,000 shares during the quarter. Tower Semiconductor comprises approximately 3.0% of Harel Insurance Investments & Financial Services Ltd.'s holdings, making the stock its 11th largest holding. Harel Insurance Investments & Financial Services Ltd. owned 3.20% of Tower Semiconductor worth $182,598,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TSEM. Dakota Wealth Management purchased a new position in shares of Tower Semiconductor in the fourth quarter valued at $920,000. Oliver Luxxe Assets LLC grew its stake in shares of Tower Semiconductor by 5.5% in the 4th quarter. Oliver Luxxe Assets LLC now owns 44,378 shares of the semiconductor company's stock worth $2,292,000 after buying an additional 2,322 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Tower Semiconductor by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 71,678 shares of the semiconductor company's stock worth $3,172,000 after buying an additional 3,168 shares during the last quarter. Barclays PLC raised its position in shares of Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock valued at $1,060,000 after buying an additional 23,385 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Tower Semiconductor by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company's stock valued at $4,154,000 after acquiring an additional 823 shares during the last quarter. Institutional investors own 70.51% of the company's stock.

Tower Semiconductor Trading Up 1.1 %

NASDAQ:TSEM traded up $0.57 during midday trading on Friday, hitting $54.74. The stock had a trading volume of 838,218 shares, compared to its average volume of 620,447. 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 50-day moving average of $50.33 and a 200 day moving average of $45.06. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 29.59 and a beta of 0.89. Tower Semiconductor Ltd. has a one year low of $28.11 and a one year high of $55.31.

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

Analyst Ratings Changes

A number of research analysts have weighed in on TSEM shares. Benchmark reiterated a "buy" rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Thursday, November 14th. StockNews.com downgraded Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Craig Hallum lifted their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, Susquehanna boosted 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. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.33.

Tower Semiconductor Company 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.