BNP Paribas Financial Markets Trims Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

BNP Paribas Financial Markets trimmed its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 64.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,786 shares of the semiconductor company’s stock after selling 192,614 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.10% of Tower Semiconductor worth $3,229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Tower Semiconductor by 189.8% in the fourth quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock worth $62,000 after buying an additional 1,321 shares during the period. CVA Family Office LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth approximately $47,000. EverSource Wealth Advisors LLC raised its holdings in shares of Tower Semiconductor by 336.4% in the third quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock worth $52,000 after buying an additional 1,635 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tower Semiconductor by 7.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,674 shares of the semiconductor company’s stock worth $875,000 after buying an additional 2,032 shares during the period. Finally, Principal Securities Inc. purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth approximately $71,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Up 2.2 %

Shares of NASDAQ:TSEM opened at $37.62 on Thursday. Tower Semiconductor Ltd. has a 12-month low of $21.43 and a 12-month high of $41.67. The business’s fifty day simple moving average is $33.49 and its 200-day simple moving average is $30.99. The company has a market capitalization of $4.11 billion, a PE ratio of 8.53 and a beta of 0.93. The company has a current ratio of 5.38, a quick ratio of 4.46 and a debt-to-equity ratio of 0.06.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $325.00 million. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. As a group, equities research analysts predict that Tower Semiconductor Ltd. will post 1.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Susquehanna upgraded Tower Semiconductor from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $36.00 to $55.00 in a report on Friday, May 10th. Craig Hallum raised their price objective on Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, May 10th. StockNews.com upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of Tower Semiconductor in a report on Friday, May 10th. Finally, TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a report on Friday, March 8th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $46.33.

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.