Wasatch Advisors Inc. boosted its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 768,114 shares of the semiconductor company’s stock after buying an additional 20,820 shares during the period. Wasatch Advisors Inc. owned approximately 0.78% of Tower Semiconductor worth $23,620,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Winslow Evans & Crocker Inc. purchased a new position in Tower Semiconductor in the third quarter valued at approximately $120,000. Dupont Capital Management Corp grew its position in Tower Semiconductor by 24.4% in the second quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after acquiring an additional 1,219 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tower Semiconductor during the third quarter worth approximately $207,000. Parametric Portfolio Associates LLC acquired a new stake in shares of Tower Semiconductor during the first quarter worth approximately $217,000. Finally, JPMorgan Chase & Co. lifted its stake in Tower Semiconductor by 319.3% in the first quarter. JPMorgan Chase & Co. now owns 10,194 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 7,763 shares during the last quarter. Hedge funds and other institutional investors own 42.33% of the company’s stock.
TSEM has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price objective on shares of Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 15th. BidaskClub upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. ValuEngine upgraded shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Craig Hallum reissued a “buy” rating and issued a $39.00 price target (up previously from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. Finally, Drexel Hamilton boosted their target price on Tower Semiconductor from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. Tower Semiconductor has a consensus rating of “Buy” and a consensus target price of $43.75.
Tower Semiconductor Ltd. (NASDAQ:TSEM) traded up $0.02 on Thursday, hitting $33.41. The stock had a trading volume of 502,519 shares, compared to its average volume of 696,286. The company has a market capitalization of $3,160.00, a PE ratio of 15.99, a PEG ratio of 1.13 and a beta of 0.97. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.34. Tower Semiconductor Ltd. has a 1-year low of $18.38 and a 1-year high of $36.69.
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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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