S Squared Technology LLC decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 43.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,690 shares of the semiconductor company’s stock after selling 100,000 shares during the period. S Squared Technology LLC’s holdings in Tower Semiconductor were worth $2,131,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSEM. State of Tennessee Treasury Department acquired a new stake in Tower Semiconductor during the 1st quarter worth about $25,000. US Bancorp DE lifted its stake in Tower Semiconductor by 1,526.2% in the 1st quarter. US Bancorp DE now owns 4,781 shares of the semiconductor company’s stock worth $79,000 after purchasing an additional 4,487 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Tower Semiconductor by 72.1% during the 1st quarter. Penserra Capital Management LLC now owns 5,070 shares of the semiconductor company’s stock valued at $83,000 after buying an additional 2,124 shares during the period. SG Americas Securities LLC acquired a new stake in Tower Semiconductor in the 4th quarter valued at approximately $158,000. Finally, RBF Capital LLC acquired a new stake in Tower Semiconductor in the 4th quarter valued at approximately $198,000. 52.12% of the stock is owned by institutional investors.
Shares of Tower Semiconductor stock traded down $0.26 on Friday, reaching $14.96. 3,883 shares of the stock were exchanged, compared to its average volume of 243,827. Tower Semiconductor Ltd. has a 1-year low of $13.56 and a 1-year high of $24.56. The company has a quick ratio of 3.73, a current ratio of 4.51 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.27.
Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, May 15th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Tower Semiconductor had a return on equity of 13.06% and a net margin of 10.43%. The firm had revenue of $310.11 million for the quarter, compared to analyst estimates of $309.67 million. During the same quarter last year, the firm earned $0.31 earnings per share. The company’s revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that Tower Semiconductor Ltd. will post 0.88 EPS for the current year.
Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of Tower Semiconductor in a research report on Thursday, March 28th. Credit Suisse Group cut shares of Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $17.71 target price for the company. in a report on Wednesday, April 24th. BidaskClub raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, April 5th. TheStreet raised shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a report on Thursday, May 2nd. Finally, ValuEngine raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $23.29.
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Tower Semiconductor Company Profile
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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