SEB Asset Management AB Purchases Shares of 8,721 Tower Semiconductor Ltd. $TSEM

Key Points

• SEB Asset Management AB opened a new position in Tower Semiconductor during the first quarter, buying 8,721 shares valued at about $1.49 million.
• Other institutional investors also adjusted their stakes, and hedge funds and institutions now own 70.51% of the semiconductor company’s stock.
• Analysts remain mixed but generally constructive on TSEM, with a consensus “Moderate Buy” rating and an average price target of $276.75.

SEB Asset Management AB purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,721 shares of the semiconductor company's stock, valued at approximately $1,488,000.

A number of other large investors have also modified their holdings of the business. Y.D. More Investments Ltd grew its position in shares of Tower Semiconductor by 4.6% in the fourth quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company's stock valued at $118,084,000 after purchasing an additional 44,401 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company's stock worth $352,589,000 after purchasing an additional 25,000 shares during the last quarter. Rockingstone Advisors LLC acquired a new position in shares of Tower Semiconductor during the 4th quarter worth about $5,296,000. GF Fund Management CO. LTD. lifted its stake in Tower Semiconductor by 26,835.5% in the 4th quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company's stock valued at $36,214,000 after buying an additional 307,267 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new position in Tower Semiconductor in the 4th quarter valued at about $78,967,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TSEM shares. UBS Group reiterated a "buy" rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Wedbush raised their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. Benchmark reaffirmed a "buy" rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Finally, Susquehanna boosted their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a "positive" rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $276.75.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $260.42 on Friday. Tower Semiconductor Ltd. has a 12-month low of $43.12 and a 12-month high of $319.94. The stock has a market cap of $29.28 billion, a P/E ratio of 121.13 and a beta of 0.87. The company has a 50-day moving average price of $255.61 and a 200 day moving average price of $193.69. 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 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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