Tower stock is down 2% today. Tower is enjoying the tremendous tide in the chip industry and has risen almost 40% a year back. The expectation of high revenues and profits as a result of a shortage of chips led the institutional investors to purchase the share worth NIS 28.5 million yesterday (Wednesday) and sell it for NIS 6 million.
Institutional acquisition on February 17th
|
The paper name |
Institutional shopping |
Institutional sales |
Institutional net turnover |
Daily cycle |
|
Tower |
28,553,341 |
6,260,524 |
22,292,817 |
54,418,877 |
|
ICL |
18,766,151 |
7,153,794 |
11,612,357 |
37,999,188 |
|
Nice |
12,103,139 |
4,535,995 |
7,567,144 |
52,264,268 |
|
national |
10,185,891 |
5,714,602 |
4,471,288 |
47,901,714 |
|
Mizrahi Bank |
5,796,574 |
2,567,310 |
3,229,264 |
20,515,360 |
|
a building |
10,625,376 |
7,685,273 |
2,940,103 |
15,217,615 |
|
Strauss |
7,729,097 |
5,622,715 |
2,106,381 |
17,055,166 |
|
international |
5,246,956 |
3,206,355 |
2,040,601 |
17,265,402 |
|
Matrix |
2,238,950 |
972,326 |
1,266,624 |
6,870,074 |
|
Nova |
2,506,536 |
1,570,008 |
936,528 |
10,448,923 |
Tower’s report showed sales of $ 345 million in the fourth quarter, 11% growth compared to sales in the fourth quarter last year. Tower predicts that its sales for the first quarter of 2021 will be similar to those of the previous quarter (a projected increase of 20% over the first quarter of 2020). Net income for the fourth quarter of 2020 totaled $ 31 million compared to $ 21 million in the corresponding quarter.
Institutional turnover yesterday in the Tower share was NIS 34 million out of NIS 54 million. Tower stock investors need to take this into account. In addition, a study of the shopping route will indicate that the provident fund managers actually sold the stock, while the fund managers who are characterized by a shorter holding time increase holdings.
In addition, there should be an indication of the continued increase in institutional purchases of NICE shares. In the next issue of Pander, we will present data on the fact that NICE is the stock that investors are buying in large quantities from the Tel Aviv 35 Index.