On September 17, 2023, ARK Investment Management LLC disclosed that it has reduced its stake in Tower Semiconductor Ltd. (NASDAQ: TSEM) by 11.5% during the second quarter. According to the company’s filing with the SEC, ARK Investment Management LLC now owns 45,452 shares of Tower Semiconductor’s stock after selling 5,927 shares during that period. The total value of their holdings in Tower Semiconductor is estimated to be $1,705,000.
Tower Semiconductor Ltd., an independent semiconductor foundry, specializes in manufacturing analog intensive mixed-signal semiconductor devices using specialty process technologies. With operations in Israel, the United States, Japan, Europe, and other international locations, Tower Semiconductor provides a range of customizable process technologies including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
Tower Semiconductor’s focus on specialty process technologies allows them to cater to various industries and applications that require advanced semiconductor solutions. By offering customization options for their clients’ specific needs, they have established themselves as a prominent player in the industry.
The reduction in ARK Investment Management LLC’s stake could indicate a variety of reasons behind their decision. It is crucial to note that changes in investment holdings can occur due to strategic portfolio adjustments or shifts in market conditions.
As always when examining investment disclosures and decisions made by financial management companies such as ARK Investment Management LLC, it is essential to consider these actions within the broader context of the company’s overall investment strategy and goals.
Tower Semiconductor continues to develop its capabilities and expand its reach within the semiconductor industry. Their expertise in specialty process technologies positions them well for future growth opportunities as demand for advanced analog intensive mixed-signal semiconductor devices remains strong.
Investors should take into account various factors when evaluating investment opportunities and consider seeking professional advice before making any decisions.
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Tower Semiconductor Ltd.: Resilient Performance and Growing Institutional Investments
Tower Semiconductor Ltd. (NASDAQ: TSEM), a leading semiconductor company, has recently seen several institutional investors and hedge funds modifying their holdings in the company. Clal Insurance Enterprises Holdings Ltd, for instance, boosted its position in Tower Semiconductor by an impressive 230.6% during the first quarter of this year. The company now owns a staggering 6,027,252 shares of Tower Semiconductor’s stock worth $255,356,000 after buying an additional 4,204,362 shares during the period.
Another notable investor is Balyasny Asset Management L.P., which acquired a new stake in Tower Semiconductor during the first quarter, amounting to approximately $46,105,000. Additionally, Franklin Resources Inc. grew its position in the company by 36.3% in the fourth quarter and now owns 3,822,943 shares valued at $165,152,000. Renaissance Technologies LLC also raised its position in Tower Semiconductor by 105.3% during the first quarter and now holds 1,354,146 shares worth $57,511,000.
Legal & General Group Plc is another significant shareholder that boosted its holdings by an impressive 156.5% in the second quarter alone. The group now owns 1,107,573 shares valued at $51,453,000 after acquiring an additional 67580631during this period.
Overall,Tower Semiconductor remains a favored investment choice among institutional investors and hedge funds as they currently own over 60% of the company’s stock.
In light of these developments and various analyst opinions on TSEM shares have emerged recently as well.Tower Semiconductor was raised from a “hold”rating to a “buy “rating by Craig Hallum analysts .Moreover ,TheStreet cut Tower semiconductors rating from b- to c+. On top of that ,Stock News.com upgraded TSEM from hold rating to buy rating .
As of September 17, 2023, Tower Semiconductor opened at $26.75 on the NASDAQ stock exchange. The company’s 1-year low stands at $26.69 while its 1-year high is recorded at $46.50. The stock has a 50-day moving average price of $33.03, with a two-hundred day moving average price of $38.19.
With a market cap of $2.92 billion and a PE ratio of 10.83, Tower Semiconductor continues to be an attractive investment option for many analysts and institutions despite recent fluctuations in the market. The company has shown resilience and solid performance throughout the years, positioning itself as a leader in the semiconductor industry.
Tower Semiconductor last reported its quarterly earnings results on Wednesday, July 26th, revealing that it had surpassed expectations by reporting an EPS of $0.46 for the quarter, beating the consensus estimate of $0.43 by $0.03.The company also boasted a net margin of 17.82% and a return on equity of 12.74%. Moreover ,it reported revenues of $357.19 million during this period compared to the consensus estimate of $354 million .Although there was a decline in revenue when compared to the same quarter in the prior year by %16 .Furthermore ,analysts predict that Tower Semiconductor Ltd will post an EPS (earnings per share) of around 1.94 for the current year.
With robust performance in recent quarters coupled with growing institutional investments, Tower Semiconductor is poised to navigate through uncertainties and seize opportunities in an ever-evolving industry landscape.
