Tower Semiconductor Ltd. (NASDAQ:TSEM) Stock Position Cut by Centiva Capital LP

Centiva Capital LP decreased its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 22.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 12,620 shares of the semiconductor company’s stock after selling 3,629 shares during the period. Centiva Capital LP’s holdings in Tower Semiconductor were worth $559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Senvest Management LLC boosted its holdings in shares of Tower Semiconductor by 1.7% in the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock valued at $368,262,000 after acquiring an additional 138,807 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Tower Semiconductor by 3.4% during 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Tower Semiconductor by 1.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares during the period. Jennison Associates LLC raised its stake in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock worth $123,529,000 after buying an additional 40,038 shares in the last quarter. Finally, Meitav Investment House Ltd. lifted its holdings in shares of Tower Semiconductor by 5.1% in the third quarter. Meitav Investment House Ltd. now owns 2,555,530 shares of the semiconductor company’s stock valued at $113,220,000 after buying an additional 123,713 shares during the period. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $49.82 on Friday. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 1 year low of $27.99 and a 1 year high of $50.66. The company has a market cap of $5.52 billion, a PE ratio of 26.93 and a beta of 0.92. The stock’s 50-day moving average price is $45.43 and its two-hundred day moving average price is $41.98.

Tower Semiconductor (NASDAQ:TSEM) last issued 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. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts predict that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Susquehanna lifted their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Craig Hallum increased their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday, November 14th. 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, Tower Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

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.