80,500 Shares in Tower Semiconductor Ltd. $TSEM Acquired by Swedbank AB

Key Points

• Swedbank AB bought a new stake in Tower Semiconductor during the first quarter, acquiring 80,500 shares valued at about $14.1 million.
• Institutional ownership in Tower Semiconductor remains high, with 70.51% of the stock held by institutions and several other funds recently adding or establishing positions.
• Analysts were generally mixed but more optimistic on price targets: Tower Semiconductor has a consensus rating of “Hold” with an average target price of $276.75, while recent target hikes from Wedbush, Susquehanna, and Benchmark pushed estimates higher.

Swedbank AB purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 80,500 shares of the semiconductor company's stock, valued at approximately $14,126,000. Swedbank AB owned approximately 0.07% of Tower Semiconductor at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. USA Financial Formulas bought a new position in Tower Semiconductor in the 4th quarter valued at $27,000. CIBC Private Wealth Group LLC increased its stake in shares of Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock valued at $30,000 after buying an additional 300 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Tower Semiconductor in the third quarter valued at $48,000. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor in the fourth quarter valued at about $52,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Tower Semiconductor in the first quarter valued at about $53,000. 70.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TSEM shares. Wedbush increased their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a report on Thursday, May 14th. Susquehanna upped their price target on Tower Semiconductor from $180.00 to $330.00 and gave the company a "positive" rating in a research note on Thursday, May 14th. Finally, Benchmark raised their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $276.75.

Tower Semiconductor Stock Performance

TSEM stock opened at $226.58 on Friday. The business's 50-day moving average price is $252.93 and its two-hundred day moving average price is $185.14. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The firm has a market cap of $25.48 billion, a PE ratio of 105.39 and a beta of 0.87. Tower Semiconductor Ltd. has a 1-year low of $43.12 and a 1-year high of $319.94.

Tower Semiconductor Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company's technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.

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