Y.D. More Investments Ltd lowered its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 930,690 shares of the semiconductor company's stock after selling 79,156 shares during the period. Tower Semiconductor comprises 6.1% of Y.D. More Investments Ltd's portfolio, making the stock its 4th largest holding. Y.D. More Investments Ltd owned 0.83% of Tower Semiconductor worth $158,464,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in shares of Tower Semiconductor by 10.8% during the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company's stock valued at $93,000 after acquiring an additional 77 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Tower Semiconductor by 2.6% in 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 during the period. Evergreen Capital Management LLC increased its stake in Tower Semiconductor by 2.6% in the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company's stock valued at $601,000 after purchasing an additional 131 shares in the last quarter. Mariner LLC increased its stake in 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 in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Tower Semiconductor by 2.9% during the fourth quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company's stock worth $922,000 after purchasing an additional 218 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have commented on TSEM. Wedbush boosted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Susquehanna raised their price target on 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 lifted their price target on Tower Semiconductor from $230.00 to $335.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $276.75.
Check Out Our Latest Stock Report on Tower Semiconductor
Tower Semiconductor Stock Performance
Tower Semiconductor stock opened at $222.75 on Monday. The firm has a market capitalization of $25.05 billion, a P/E ratio of 103.60 and a beta of 0.87. The stock has a fifty day moving average price of $253.40 and a 200 day moving average price of $185.87. Tower Semiconductor Ltd. has a 52 week low of $43.12 and a 52 week high of $319.94. 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
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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.
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