Granahan Investment Management LLC lessened its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 47.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 29,902 shares of the semiconductor company's stock after selling 26,893 shares during the quarter. Granahan Investment Management LLC's holdings in Tower Semiconductor were worth $5,247,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd raised its holdings in Tower Semiconductor by 10.8% in the fourth quarter. Covestor Ltd now owns 793 shares of the semiconductor company's stock valued at $93,000 after acquiring an additional 77 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Tower Semiconductor by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company's stock worth $359,000 after acquiring an additional 127 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in Tower Semiconductor by 2.6% during the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company's stock worth $601,000 after acquiring an additional 131 shares in the last quarter. Mariner LLC increased its position in shares of Tower Semiconductor by 2.4% in the 3rd quarter. Mariner LLC now owns 8,815 shares of the semiconductor company's stock valued at $637,000 after purchasing an additional 207 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Tower Semiconductor by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company's stock valued at $922,000 after purchasing an additional 218 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently issued reports on TSEM. Benchmark reaffirmed a "buy" rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. UBS Group reissued a "buy" rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Susquehanna raised 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, Wedbush lifted their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $276.75.
Get Our Latest Stock Analysis on Tower Semiconductor
Tower Semiconductor Trading Down 10.4%
NASDAQ:TSEM opened at $233.37 on Friday. The company has a market capitalization of $26.24 billion, a PE ratio of 108.54 and a beta of 0.87. Tower Semiconductor Ltd. has a 52-week low of $43.12 and a 52-week high of $319.94. The stock's 50 day moving average price is $254.80 and its 200 day moving average price is $193.97. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04.
About Tower Semiconductor
(
Free Report)
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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