First Trust Advisors LP Purchases Shares of 31,760 Tower Semiconductor Ltd. (NASDAQ:TSEM)

First Trust Advisors LP acquired a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 31,760 shares of the semiconductor company's stock, valued at approximately $1,650,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Tower Semiconductor by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock worth $205,954,000 after purchasing an additional 42,969 shares in the last quarter. Invesco Ltd. lifted its holdings in Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock valued at $90,721,000 after buying an additional 1,260,683 shares during the period. Menora Mivtachim Holdings LTD. lifted its holdings in Tower Semiconductor by 16.4% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock valued at $69,307,000 after buying an additional 189,738 shares during the period. William Blair Investment Management LLC lifted its holdings in Tower Semiconductor by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock valued at $53,456,000 after buying an additional 25,247 shares during the period. Finally, Y.D. More Investments Ltd lifted its holdings in Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company's stock valued at $44,883,000 after buying an additional 187,103 shares during the period. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Trading Up 5.2%

TSEM traded up $1.95 during mid-day trading on Monday, hitting $39.45. The stock had a trading volume of 63,327 shares, compared to its average volume of 558,380. The stock's fifty day simple moving average is $36.24 and its 200-day simple moving average is $44.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $55.31. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 21.17 and a beta of 0.75.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TSEM shares. Wedbush reissued an "outperform" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reissued a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Thursday, May 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.