Tower Semiconductor Ltd. (NASDAQ:TSEM) Stock Holdings Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 29.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 285,963 shares of the semiconductor company's stock after selling 120,122 shares during the period. JPMorgan Chase & Co. owned 0.26% of Tower Semiconductor worth $12,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tower Semiconductor during the third quarter worth $27,000. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor in the 3rd quarter worth about $38,000. Blue Trust Inc. increased its holdings in shares of Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock worth $80,000 after acquiring an additional 1,376 shares during the period. Signaturefd LLC increased its holdings in shares of Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock worth $109,000 after acquiring an additional 431 shares during the period. Finally, Scientech Research LLC acquired a new stake in shares of Tower Semiconductor in the 2nd quarter worth about $200,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSEM. Benchmark reaffirmed a "buy" rating and issued a $55.00 price objective on shares of Tower Semiconductor in a report on Thursday, November 14th. Susquehanna increased their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, November 14th. Craig Hallum increased their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, StockNews.com cut shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $58.33.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM traded down $0.79 during trading hours on Friday, hitting $50.91. 252,322 shares of the company's stock traded hands, compared to its average volume of 557,320. Tower Semiconductor Ltd. has a 52 week low of $28.02 and a 52 week high of $54.27. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The company's fifty day simple moving average is $48.89 and its two-hundred day simple moving average is $44.32. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 27.52 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $370.30 million. During the same period last year, the company posted $0.47 earnings per share. The business's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

About Tower Semiconductor

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.