DSM Capital Partners LLC Takes $3.35 Million Position in Tower Semiconductor Ltd. $TSEM

Key Points

• DSM Capital Partners opened a new position in Tower Semiconductor during the first quarter, buying 19,068 shares valued at about $3.35 million.
• Institutional ownership remains high, with several other funds also adding to their stakes and 70.51% of Tower Semiconductor stock now held by institutional investors.
• Analysts have recently raised their price targets sharply, though the stock still carries a consensus Hold rating with an average target price of $276.75.

DSM Capital Partners LLC purchased a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,068 shares of the semiconductor company's stock, valued at approximately $3,346,000.

Several other large investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its position in shares of Tower Semiconductor by 4.6% during the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company's stock valued at $118,084,000 after buying an additional 44,401 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company's stock worth $352,589,000 after acquiring an additional 25,000 shares during the last quarter. Granahan Investment Management LLC boosted its stake in Tower Semiconductor by 42.6% in the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company's stock valued at $12,883,000 after acquiring an additional 53,208 shares during the period. Rockingstone Advisors LLC bought a new position in shares of Tower Semiconductor during the fourth quarter valued at approximately $5,296,000. Finally, GF Fund Management CO. LTD. grew its holdings in shares of Tower Semiconductor by 26,835.5% during the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company's stock valued at $36,214,000 after purchasing an additional 307,267 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TSEM. Wedbush increased their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Susquehanna boosted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company a "positive" rating in a research report on Thursday, May 14th. Finally, Benchmark upped their price objective on Tower Semiconductor from $230.00 to $335.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $276.75.

Tower Semiconductor Trading Up 2.3%

Shares of NASDAQ:TSEM opened at $216.70 on Thursday. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The company's 50-day moving average price is $252.27 and its 200 day moving average price is $184.38. The company has a market cap of $24.37 billion, a PE ratio of 100.79 and a beta of 0.87. Tower Semiconductor Ltd. has a fifty-two week low of $43.12 and a fifty-two week high of $319.94.

Tower Semiconductor Company 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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