Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 13.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,550,972 shares of the semiconductor company’s stock after selling 242,276 shares during the period. D. E. Shaw & Co. Inc. owned 1.45% of Tower Semiconductor worth $43,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Neuberger Berman Group LLC acquired a new stake in shares of Tower Semiconductor during the 1st quarter worth about $18,436,000. Envestnet Asset Management Inc. acquired a new stake in shares of Tower Semiconductor during the 1st quarter worth about $202,000. Herald Investment Management Ltd raised its position in shares of Tower Semiconductor by 60.9% during the 1st quarter. Herald Investment Management Ltd now owns 140,000 shares of the semiconductor company’s stock worth $3,927,000 after acquiring an additional 53,000 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Tower Semiconductor by 3.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 504,188 shares of the semiconductor company’s stock worth $13,018,000 after acquiring an additional 18,228 shares in the last quarter. Finally, Parsifal Capital Management LP raised its position in shares of Tower Semiconductor by 23.3% during the 4th quarter. Parsifal Capital Management LP now owns 2,109,792 shares of the semiconductor company’s stock worth $54,475,000 after acquiring an additional 397,994 shares in the last quarter. 55.20% of the stock is currently owned by institutional investors and hedge funds.

Separately, Needham & Company LLC began coverage on Tower Semiconductor in a research report on Wednesday, June 30th. They set a “buy” rating and a $37.00 target price on the stock.

NASDAQ:TSEM opened at $27.37 on Thursday. The stock’s 50 day moving average price is $27.44. The stock has a market cap of $2.92 billion, a P/E ratio of 30.64 and a beta of 1.38. The company has a quick ratio of 3.30, a current ratio of 4.02 and a debt-to-equity ratio of 0.16. Tower Semiconductor Ltd. has a 52-week low of $17.61 and a 52-week high of $34.45.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, May 12th. The semiconductor company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. Tower Semiconductor had a return on equity of 6.65% and a net margin of 7.13%. The company had revenue of $347.20 million for the quarter, compared to the consensus estimate of $345.09 million. During the same period last year, the business posted $0.20 EPS. The company’s revenue was up 15.7% on a year-over-year basis. Equities research analysts predict that Tower Semiconductor Ltd. will post 1.17 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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