Gabelli Funds LLC Reduces Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Gabelli Funds LLC reduced its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEMFree Report) by 59.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,600 shares of the semiconductor company’s stock after selling 190,330 shares during the period. Gabelli Funds LLC owned about 0.12% of Tower Semiconductor worth $3,894,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Quadrant Capital Group LLC boosted its holdings in shares of Tower Semiconductor by 34.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 413 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Tower Semiconductor by 189.8% in the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 1,321 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at $47,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tower Semiconductor by 7.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,674 shares of the semiconductor company’s stock valued at $875,000 after acquiring an additional 2,032 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in Tower Semiconductor during the fourth quarter worth $71,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of Tower Semiconductor in a report on Friday, May 10th. StockNews.com raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Craig Hallum increased their price target on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, May 10th. TheStreet raised shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a report on Friday, March 8th. Finally, Susquehanna raised shares of Tower Semiconductor from a “neutral” rating to a “positive” rating and increased their price target for the stock from $36.00 to $55.00 in a report on Friday, May 10th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $46.33.

Check Out Our Latest Analysis on Tower Semiconductor

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $37.30 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 5.38. The company has a fifty day moving average of $34.63 and a two-hundred day moving average of $31.96. The stock has a market capitalization of $4.08 billion, a PE ratio of 8.46 and a beta of 0.90. Tower Semiconductor Ltd. has a fifty-two week low of $21.43 and a fifty-two week high of $41.35.

Tower Semiconductor (NASDAQ:TSEMGet Free Report) last issued its earnings results on Thursday, May 9th. The semiconductor company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The business had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $325.00 million. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. As a group, research analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Tower Semiconductor Profile

(Free Report)

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.

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

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