Arrowstreet Capital Limited Partnership Decreases Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Arrowstreet Capital Limited Partnership reduced its position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 72.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,039 shares of the semiconductor company's stock after selling 639,811 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.22% of Tower Semiconductor worth $12,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TSEM. R Squared Ltd purchased a new stake in Tower Semiconductor during the fourth quarter valued at $61,000. Blue Trust Inc. grew its holdings in shares of Tower Semiconductor by 12.7% in the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock worth $105,000 after purchasing an additional 230 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Tower Semiconductor in the fourth quarter worth about $134,000. Cornerstone Investment Partners LLC bought a new position in shares of Tower Semiconductor in the fourth quarter worth about $203,000. Finally, Callan Family Office LLC bought a new position in Tower Semiconductor during the 4th quarter worth about $323,000. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Stock Performance

TSEM traded down $1.57 during trading on Thursday, reaching $33.73. 197,219 shares of the company's stock were exchanged, compared to its average volume of 556,968. The stock has a market capitalization of $3.74 billion, a P/E ratio of 18.13 and a beta of 0.84. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The company's fifty day simple moving average is $40.77 and its 200-day simple moving average is $45.33. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.

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Analyst Ratings Changes

Several research analysts have issued reports on the stock. Benchmark reiterated a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Monday. Wedbush reaffirmed an "outperform" 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 stock. According to data from MarketBeat, Tower Semiconductor presently has a consensus 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.