Thurston Springer Miller Herd & Titak Inc. Sells 1,000 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Thurston Springer Miller Herd & Titak Inc. decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 22.2% during the 4th quarter, Holdings Channel reports. The firm owned 3,500 shares of the semiconductor company’s stock after selling 1,000 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Tower Semiconductor were worth $180,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Tower Semiconductor in the third quarter valued at about $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the third quarter worth about $38,000. Blue Trust Inc. grew its stake in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC increased its holdings in Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares during the period. Finally, Scientech Research LLC bought a new position in Tower Semiconductor during the 2nd quarter valued at approximately $200,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Up 3.0 %

TSEM stock opened at $52.22 on Friday. The stock has a market capitalization of $5.79 billion, a P/E ratio of 28.23 and a beta of 0.89. 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 1-year low of $28.02 and a 1-year high of $54.27. The business has a fifty day moving average price of $49.59 and a 200-day moving average price of $44.58.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data 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. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company 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 firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts forecast that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TSEM shares. Susquehanna upped their target price on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Craig Hallum boosted their price target on shares of 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor 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.