Tower Semiconductor Ltd. (TSEM) Position Lowered by Sphera Funds Management LTD.

Sphera Funds Management LTD. decreased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 20.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,155 shares of the semiconductor company’s stock after selling 16,785 shares during the period. Sphera Funds Management LTD. owned 0.07% of Tower Semiconductor worth $1,548,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Tower Semiconductor by 71.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 136,547 shares of the semiconductor company’s stock worth $2,598,000 after buying an additional 57,011 shares during the last quarter. Cipher Capital LP increased its stake in shares of Tower Semiconductor by 113.1% in the fourth quarter. Cipher Capital LP now owns 111,194 shares of the semiconductor company’s stock worth $2,116,000 after buying an additional 59,004 shares during the last quarter. Hodges Capital Management Inc. increased its stake in shares of Tower Semiconductor by 229.1% in the fourth quarter. Hodges Capital Management Inc. now owns 296,225 shares of the semiconductor company’s stock worth $5,637,000 after buying an additional 206,225 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Tower Semiconductor during the fourth quarter worth about $1,451,000. Finally, UBS Group AG increased its stake in shares of Tower Semiconductor by 13.0% in the third quarter. UBS Group AG now owns 337,801 shares of the semiconductor company’s stock worth $5,128,000 after buying an additional 38,770 shares during the last quarter. Institutional investors and hedge funds own 48.77% of the company’s stock.

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

Tower Semiconductor Ltd. (NASDAQ:TSEM) traded up 0.08% during trading on Friday, hitting $23.93. 377,078 shares of the company were exchanged. The firm’s 50 day moving average price is $24.30 and its 200-day moving average price is $22.01. Tower Semiconductor Ltd. has a 1-year low of $11.25 and a 1-year high of $25.89. The stock has a market capitalization of $2.25 billion, a PE ratio of 12.83 and a beta of 0.85.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Monday, May 8th. The semiconductor company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Tower Semiconductor had a return on equity of 28.41% and a net margin of 14.10%. The business had revenue of $330.10 million for the quarter, compared to analyst estimates of $330 million. During the same quarter in the prior year, the firm posted $0.34 EPS. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts predict that Tower Semiconductor Ltd. will post $2.03 EPS for the current year.

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A number of research firms recently issued reports on TSEM. TheStreet raised shares of Tower Semiconductor from a “c+” rating to a “b-” rating in a report on Wednesday, February 22nd. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Tower Semiconductor in a report on Tuesday, May 9th.

About Tower Semiconductor

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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