Healthcare of Ontario Pension Plan Trust Fund Purchases New Stake in Tower Semiconductor Ltd. $TSEM

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 73,900 Tower Semiconductor shares worth approximately $12.97 million, representing about 0.07% of the company. Institutional investors and hedge funds collectively own 70.51% of TSEM.
• Tower Semiconductor shares recently traded at $224.21, down 3.9%, with a market capitalization of $25.21 billion and a price-to-earnings ratio of 104.28.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a consensus price target of $276.75; recent targets range from $300 to $330.

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 73,900 shares of the semiconductor company's stock, valued at approximately $12,968,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of Tower Semiconductor as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in Tower Semiconductor by 9.7% in the 1st quarter. Renaissance Technologies LLC now owns 274,749 shares of the semiconductor company's stock valued at $48,213,000 after buying an additional 24,200 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Tower Semiconductor by 43.8% during the 1st quarter. Cetera Investment Advisers now owns 6,954 shares of the semiconductor company's stock valued at $1,220,000 after acquiring an additional 2,118 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Tower Semiconductor during the 1st quarter valued at about $660,000. Andar Capital Management HK Ltd grew its holdings in shares of Tower Semiconductor by 44.0% in the first quarter. Andar Capital Management HK Ltd now owns 130,000 shares of the semiconductor company's stock valued at $22,812,000 after purchasing an additional 39,750 shares during the period. Finally, Parallel Advisors LLC increased its position in Tower Semiconductor by 83.1% during the first quarter. Parallel Advisors LLC now owns 879 shares of the semiconductor company's stock worth $154,000 after purchasing an additional 399 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Trading Down 3.9%

Shares of TSEM stock opened at $224.21 on Tuesday. Tower Semiconductor Ltd. has a 1-year low of $43.12 and a 1-year high of $319.94. The firm has a market cap of $25.21 billion, a PE ratio of 104.28 and a beta of 0.87. The company has a 50-day moving average of $254.32 and a two-hundred day moving average of $195.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Analysts Set New Price Targets

A number of brokerages have commented on TSEM. UBS Group reaffirmed a "buy" rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Wedbush raised their price target 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 lifted their price target on shares of 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 reiterated a "buy" rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $276.75.

About Tower Semiconductor

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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