Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Acquired by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 0.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,631,160 shares of the semiconductor company’s stock after acquiring an additional 13,900 shares during the quarter. Tower Semiconductor comprises 2.2% of Clal Insurance Enterprises Holdings Ltd’s investment portfolio, making the stock its 16th biggest position. Clal Insurance Enterprises Holdings Ltd owned about 5.08% of Tower Semiconductor worth $249,706,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Essex Investment Management Co. LLC increased its holdings in shares of Tower Semiconductor by 7.5% in the third quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock valued at $7,948,000 after purchasing an additional 12,551 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after acquiring an additional 50,000 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Tower Semiconductor during the third quarter worth $11,094,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Tower Semiconductor in the third quarter valued at $573,000. Finally, Foundry Partners LLC purchased a new stake in Tower Semiconductor during the second quarter worth about $519,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

TSEM has been the topic of a number of research reports. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Craig Hallum lifted their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Tower Semiconductor Stock Up 0.0 %

TSEM opened at $47.83 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. Tower Semiconductor Ltd. has a 12 month low of $27.11 and a 12 month high of $50.25. The stock has a market capitalization of $5.30 billion, a P/E ratio of 25.85 and a beta of 0.90. The business has a 50 day simple moving average of $44.12 and a 200-day simple moving average of $41.01.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The business had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. On average, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current fiscal year.

Tower Semiconductor Company Profile

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.