Voya Investment Management LLC Sells 95,757 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Voya Investment Management LLC cut its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 632,597 shares of the semiconductor company's stock after selling 95,757 shares during the period. Voya Investment Management LLC owned approximately 0.57% of Tower Semiconductor worth $32,585,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Tower Semiconductor by 1.1% in 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 during the last quarter. Invesco Ltd. boosted its position in Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock worth $90,721,000 after purchasing an additional 1,260,683 shares during the last quarter. Menora Mivtachim Holdings LTD. lifted its position in shares of Tower Semiconductor by 16.4% during the 4th 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 in the last quarter. William Blair Investment Management LLC lifted its position in shares of Tower Semiconductor by 2.5% during the 4th 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 in the last quarter. Finally, Y.D. More Investments Ltd lifted its position in shares of Tower Semiconductor by 27.5% during 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 in the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Price Performance

TSEM traded down $0.34 during trading on Wednesday, hitting $35.84. 211,927 shares of the company traded hands, compared to its average volume of 562,966. The company has a market cap of $3.97 billion, a PE ratio of 19.27 and a beta of 0.84. The stock's 50-day simple moving average is $37.25 and its two-hundred day simple moving average is $44.47. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

TSEM has been the topic of a number of analyst reports. Benchmark reaffirmed a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Monday, April 7th. Wedbush reaffirmed an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company 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.