Private Advisor Group LLC Invests $3.57 Million in Tower Semiconductor Ltd. $TSEM

Key Points

• Private Advisor Group LLC disclosed a new first-quarter position in Tower Semiconductor, buying 20,342 shares valued at about $3.57 million.
• Other institutional investors also added to their holdings, and 70.51% of Tower Semiconductor’s stock is now owned by hedge funds and other institutions.
• Wall Street analysts turned more upbeat on TSEM, with multiple firms raising price targets; the stock currently carries an average Hold rating and an average target of $276.75.

Private Advisor Group LLC bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 20,342 shares of the semiconductor company's stock, valued at approximately $3,570,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. USS Investment Management Ltd increased its position in Tower Semiconductor by 6.9% in the first quarter. USS Investment Management Ltd now owns 33,584 shares of the semiconductor company's stock worth $5,893,000 after buying an additional 2,167 shares in the last quarter. Gunderson Capital Management LLC purchased a new position in shares of Tower Semiconductor during the 1st quarter valued at about $4,601,000. Pictet Asset Management Holding SA grew its stake in shares of Tower Semiconductor by 70.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 46,385 shares of the semiconductor company's stock valued at $7,914,000 after acquiring an additional 19,236 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Tower Semiconductor during the 1st quarter valued at approximately $298,000. Finally, Hanson & Doremus Investment Management purchased a new stake in Tower Semiconductor in the 1st quarter worth approximately $53,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $216.70 on Thursday. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. Tower Semiconductor Ltd. has a 12-month low of $43.12 and a 12-month high of $319.94. The stock has a 50-day moving average price of $252.27 and a 200 day moving average price of $184.38. The stock has a market capitalization of $24.37 billion, a P/E ratio of 100.79 and a beta of 0.87.

Wall Street Analyst Weigh In

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

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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