Creative Planning Has $329,000 Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Creative Planning cut its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 16.3% during the second quarter, HoldingsChannel.com reports. The firm owned 8,382 shares of the semiconductor company’s stock after selling 1,638 shares during the quarter. Creative Planning’s holdings in Tower Semiconductor were worth $329,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. TD Asset Management Inc increased its stake in shares of Tower Semiconductor by 3.2% in the 2nd quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 506 shares during the last quarter. DGS Capital Management LLC increased its stake in shares of Tower Semiconductor by 5.5% in the 1st quarter. DGS Capital Management LLC now owns 15,246 shares of the semiconductor company’s stock valued at $510,000 after acquiring an additional 789 shares during the last quarter. Swiss National Bank increased its stake in shares of Tower Semiconductor by 1.0% in the 1st quarter. Swiss National Bank now owns 220,171 shares of the semiconductor company’s stock valued at $7,209,000 after acquiring an additional 2,189 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Tower Semiconductor by 30.3% in the 2nd quarter. ProShare Advisors LLC now owns 9,459 shares of the semiconductor company’s stock valued at $372,000 after acquiring an additional 2,202 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in shares of Tower Semiconductor by 25.9% in the 2nd quarter. GHP Investment Advisors Inc. now owns 12,328 shares of the semiconductor company’s stock valued at $485,000 after acquiring an additional 2,538 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSEM has been the subject of a number of recent analyst reports. StockNews.com cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Monday, September 9th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $51.33.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $43.82 on Friday. The business has a 50 day simple moving average of $42.35 and a 200 day simple moving average of $38.89. Tower Semiconductor Ltd. has a 52-week low of $21.45 and a 52-week high of $46.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 9.89 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $351.18 million during the quarter, compared to analysts’ expectations of $350.00 million. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. Analysts anticipate that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current fiscal year.

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.