Raymond James Financial Inc. Invests $1.35 Million in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Raymond James Financial Inc. acquired a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 26,149 shares of the semiconductor company's stock, valued at approximately $1,347,000.

Several other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Tower Semiconductor during the 4th quarter worth $61,000. Blue Trust Inc. raised its stake in Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock worth $105,000 after buying an additional 230 shares during the period. Crews Bank & Trust bought a new position in shares of Tower Semiconductor in the 4th quarter worth $134,000. Cornerstone Investment Partners LLC acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at about $203,000. Finally, Callan Family Office LLC purchased a new position in shares of Tower Semiconductor during the fourth quarter valued at approximately $323,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Stock Up 0.3 %

TSEM stock traded up $0.10 during trading on Friday, reaching $37.59. 54,478 shares of the company traded hands, compared to its average volume of 560,500. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 20.21 and a beta of 0.75. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The business has a 50 day simple moving average of $36.32 and a 200 day simple moving average of $44.08.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSEM. Benchmark reiterated a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Thursday, May 1st. Wedbush reissued an "outperform" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Tower Semiconductor Company Profile

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.