Tower Semiconductor Ltd. $TSEM Shares Sold by Arvin Capital Management LP

Arvin Capital Management LP reduced its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 74.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,135 shares of the semiconductor company’s stock after selling 126,841 shares during the period. Tower Semiconductor makes up about 1.0% of Arvin Capital Management LP’s investment portfolio, making the stock its 24th biggest holding. Arvin Capital Management LP’s holdings in Tower Semiconductor were worth $5,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Tower Semiconductor by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after purchasing an additional 53,112 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Tower Semiconductor by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after acquiring an additional 25,000 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Tower Semiconductor by 214.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after acquiring an additional 1,505,421 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Tower Semiconductor by 0.7% during the third quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after acquiring an additional 15,461 shares during the last quarter. Finally, Capital International Investors purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth about $222,530,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wedbush lifted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Benchmark lifted their target price on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Susquehanna lifted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Stock Up 1.8%

NASDAQ:TSEM opened at $262.92 on Friday. The company has a market capitalization of $29.57 billion, a price-to-earnings ratio of 122.29 and a beta of 0.87. Tower Semiconductor Ltd. has a one year low of $37.48 and a one year high of $302.86. The stock has a 50-day simple moving average of $233.92 and a 200 day simple moving average of $165.78. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. Sell-side analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current fiscal year.

Tower Semiconductor Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.