Taylor Frigon Capital Management LLC reduced its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 43.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,793 shares of the semiconductor company's stock after selling 12,965 shares during the quarter. Tower Semiconductor makes up approximately 1.7% of Taylor Frigon Capital Management LLC's holdings, making the stock its 5th largest holding. Taylor Frigon Capital Management LLC's holdings in Tower Semiconductor were worth $2,947,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. USA Financial Formulas bought a new position in Tower Semiconductor in the 4th quarter valued at $27,000. CIBC Private Wealth Group LLC grew its holdings in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Tower Semiconductor during the third quarter worth $48,000. Kestra Advisory Services LLC bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $52,000. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of Tower Semiconductor in the first quarter valued at $53,000. 70.51% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Benchmark lifted their price target on Tower Semiconductor from $230.00 to $335.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Wedbush lifted their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Finally, Susquehanna lifted their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a "positive" rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Tower Semiconductor currently has an average rating of "Hold" and a consensus target price of $276.75.
Check Out Our Latest Stock Report on TSEM
Tower Semiconductor Price Performance
Tower Semiconductor stock opened at $216.70 on Thursday. The business has a 50-day moving average of $252.27 and a 200-day moving average of $184.38. Tower Semiconductor Ltd. has a 1 year low of $43.12 and a 1 year high of $319.94. The firm has a market capitalization of $24.37 billion, a P/E ratio of 100.79 and a beta of 0.87. 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 Company Profile
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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.
Further Reading
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