American Century Companies Inc. Acquires New Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

American Century Companies Inc. bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 388,557 shares of the semiconductor company's stock, valued at approximately $20,015,000. American Century Companies Inc. owned about 0.35% of Tower Semiconductor at the end of the most recent reporting period.

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

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock traded up $0.81 during trading hours on Tuesday, hitting $36.47. 446,138 shares of the company's stock traded hands, compared to its average volume of 543,225. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 19.61 and a beta of 0.87. Tower Semiconductor Ltd. has a 12-month low of $30.74 and a 12-month high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The company has a fifty day simple moving average of $43.84 and a 200-day simple moving average of $45.92.

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Wall Street Analysts Forecast Growth

TSEM has been the subject of several analyst reports. Wedbush reiterated an "outperform" rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and issued 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 company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.