Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 16.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,083,732 shares of the semiconductor company’s stock after selling 215,101 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.98% of Tower Semiconductor worth $47,966,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of TSEM. Transcendent Capital Group LLC acquired a new position in Tower Semiconductor during the 3rd quarter worth about $27,000. USA Financial Formulas acquired a new position in Tower Semiconductor during the 3rd quarter worth about $38,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares in the last quarter. Signaturefd LLC lifted its stake in Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Tower Semiconductor during the 1st quarter worth about $164,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSEM. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Susquehanna increased their price target on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, Craig Hallum increased their price target on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

Tower Semiconductor Trading Down 1.6 %

TSEM opened at $47.36 on Friday. Tower Semiconductor Ltd. has a one year low of $27.11 and a one year high of $50.25. The company has a market cap of $5.25 billion, a P/E ratio of 25.60 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The business’s 50-day simple moving average is $44.73 and its 200-day simple moving average is $41.45.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. During the same quarter in the prior year, the business posted $0.47 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts expect that Tower Semiconductor Ltd. will post 1.77 EPS 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.