Envestnet Asset Management Inc. Increases Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Envestnet Asset Management Inc. increased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 13.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,577 shares of the semiconductor company's stock after acquiring an additional 7,717 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Tower Semiconductor worth $3,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TSEM. R Squared Ltd bought a new position in Tower Semiconductor during the 4th quarter worth $61,000. Blue Trust Inc. increased its position in shares of Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock worth $105,000 after buying an additional 230 shares during the period. Crews Bank & Trust bought a new position in Tower Semiconductor during the fourth quarter worth $134,000. Cornerstone Investment Partners LLC acquired a new position in Tower Semiconductor in the fourth quarter valued at $203,000. Finally, Callan Family Office LLC bought a new stake in Tower Semiconductor during the fourth quarter valued at $323,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Down 1.1 %

TSEM stock traded down $0.40 during midday trading on Wednesday, reaching $35.78. 289,310 shares of the company's stock traded hands, compared to its average volume of 564,100. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The firm's fifty day moving average price is $37.07 and its 200-day moving average price is $44.41. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $55.31. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 19.24 and a beta of 0.84.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TSEM shares. Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark restated a "buy" rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Company 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.