Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 46.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 513,104 shares of the semiconductor company's stock after selling 436,693 shares during the period. Janus Henderson Group PLC owned 0.46% of Tower Semiconductor worth $22,710,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Artemis Investment Management LLP increased its holdings in shares of Tower Semiconductor by 4.4% in the 2nd quarter. Artemis Investment Management LLP now owns 229,126 shares of the semiconductor company's stock worth $9,007,000 after buying an additional 9,553 shares during the last quarter. Hunter Perkins Capital Management LLC purchased a new stake in Tower Semiconductor during the second quarter valued at approximately $837,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Tower Semiconductor by 3.4% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,763,097 shares of the semiconductor company's stock valued at $147,927,000 after purchasing an additional 123,200 shares during the last quarter. Meitav Investment House Ltd. boosted its holdings in shares of Tower Semiconductor by 25.6% in the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company's stock worth $95,686,000 after purchasing an additional 495,380 shares during the period. Finally, Hodges Capital Management Inc. increased its position in shares of Tower Semiconductor by 116.1% during the 2nd quarter. Hodges Capital Management Inc. now owns 306,275 shares of the semiconductor company's stock valued at $12,040,000 after purchasing an additional 164,575 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tower Semiconductor Stock Up 0.6 %

Shares of TSEM traded up $0.29 during midday trading on Friday, hitting $49.82. 499,929 shares of the company's stock traded hands, compared to its average volume of 759,136. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 26.93 and a beta of 0.92. Tower Semiconductor Ltd. has a 1 year low of $27.99 and a 1 year high of $50.66. The firm's fifty day moving average is $45.43 and its 200-day moving average is $42.01.

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, topping the consensus estimate of $0.45 by $0.12. The company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. Tower Semiconductor's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, sell-side analysts anticipate that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current year.

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.