Arvin Capital Management LP Has $12.36 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

Arvin Capital Management LP trimmed its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 42.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,976 shares of the semiconductor company’s stock after selling 128,236 shares during the period. Tower Semiconductor comprises about 2.2% of Arvin Capital Management LP’s holdings, making the stock its 17th biggest holding. Arvin Capital Management LP owned 0.15% of Tower Semiconductor worth $12,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TSEM. Jennison Associates LLC raised its holdings in Tower Semiconductor by 18.8% during the 3rd quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock worth $168,591,000 after buying an additional 369,600 shares during the period. Schwartz Investment Counsel Inc. purchased a new position in shares of Tower Semiconductor in the third quarter worth approximately $18,798,000. Marshall Wace LLP increased its position in shares of Tower Semiconductor by 2,402.5% in the second quarter. Marshall Wace LLP now owns 239,994 shares of the semiconductor company’s stock worth $10,404,000 after acquiring an additional 230,404 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Tower Semiconductor by 43.4% during the third quarter. Penserra Capital Management LLC now owns 671,657 shares of the semiconductor company’s stock valued at $48,560,000 after acquiring an additional 203,176 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Tower Semiconductor by 7.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,977,806 shares of the semiconductor company’s stock valued at $215,295,000 after acquiring an additional 200,000 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TSEM. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Wedbush upped their price target on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Benchmark increased their price objective on Tower Semiconductor from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Barclays lifted their target price on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, Susquehanna reiterated a “positive” rating and issued a $180.00 target price on shares of Tower Semiconductor in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $156.75.

Tower Semiconductor Trading Down 9.4%

NASDAQ:TSEM opened at $125.53 on Wednesday. The stock’s 50 day moving average price is $127.66 and its 200 day moving average price is $98.99. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $149.57.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, analysts forecast that Tower Semiconductor Ltd. will post 1.67 earnings per share 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.