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

Raymond James Financial Inc. bought a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 26,149 shares of the semiconductor company's stock, valued at approximately $1,347,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake 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 valued at $205,954,000 after purchasing an additional 42,969 shares during the period. Invesco Ltd. increased its stake in Tower Semiconductor by 251.9% during the 4th quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock worth $90,721,000 after buying an additional 1,260,683 shares during the period. William Blair Investment Management LLC lifted its holdings in Tower Semiconductor by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock worth $53,456,000 after buying an additional 25,247 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Tower Semiconductor by 27.5% in the 4th 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 last quarter. Finally, Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter valued at about $33,034,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

TSEM stock traded up $0.13 during trading on Wednesday, hitting $35.99. 365,954 shares of the company's stock traded hands, compared to its average volume of 563,506. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 19.35 and a beta of 0.75. The stock has a fifty day moving average price of $36.53 and a two-hundred day moving average price of $44.19. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

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

Tower Semiconductor 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.