State Street Corp Sells 19,344 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

State Street Corp decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 12.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,269 shares of the semiconductor company's stock after selling 19,344 shares during the quarter. State Street Corp owned approximately 0.12% of Tower Semiconductor worth $6,120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hodges Capital Management Inc. raised its holdings in shares of Tower Semiconductor by 116.1% in the second quarter. Hodges Capital Management Inc. now owns 306,275 shares of the semiconductor company's stock valued at $12,040,000 after buying an additional 164,575 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Tower Semiconductor by 3.2% during the second quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company's stock worth $623,000 after purchasing an additional 506 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Tower Semiconductor during the second quarter valued at approximately $519,000. Acadian Asset Management LLC grew its stake in shares of Tower Semiconductor by 73.4% during the second quarter. Acadian Asset Management LLC now owns 213,899 shares of the semiconductor company's stock valued at $8,394,000 after purchasing an additional 90,524 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in shares of Tower Semiconductor by 9,622.0% in the second quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company's stock valued at $35,952,000 after purchasing an additional 902,546 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

Analyst Ratings Changes

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

Tower Semiconductor Trading Down 1.6 %

Shares of Tower Semiconductor stock traded down $0.86 on Friday, hitting $52.07. 290,122 shares of the company's stock traded hands, compared to its average volume of 529,492. Tower Semiconductor Ltd. has a one year low of $28.02 and a one year high of $54.27. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The stock has a market capitalization of $5.77 billion, a PE ratio of 28.15 and a beta of 0.92. The firm's 50-day moving average price is $47.38 and its two-hundred day moving average price is $43.42.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share 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 company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, research analysts expect that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

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.