Envestnet Asset Management Inc. Boosts Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Envestnet Asset Management Inc. increased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 64,577 shares of the semiconductor company's stock after buying an additional 7,717 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Tower Semiconductor worth $3,327,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Y.D. More Investments Ltd raised its position in Tower Semiconductor by 27.5% during the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company's stock worth $44,883,000 after acquiring an additional 187,103 shares during the period. Barclays PLC boosted its stake in Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock worth $1,060,000 after purchasing an additional 23,385 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tower Semiconductor by 0.9% during the third quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company's stock worth $4,154,000 after buying an additional 823 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Tower Semiconductor by 292.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company's stock valued at $1,506,000 after buying an additional 21,773 shares during the last quarter. Finally, Dakota Wealth Management purchased a new position in shares of Tower Semiconductor in the fourth quarter worth about $920,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wedbush restated an "outperform" rating and set 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 target price on shares of Tower Semiconductor in a research note on Monday, April 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.00.

Tower Semiconductor Trading Up 1.8 %

TSEM traded up $0.65 during trading hours on Friday, reaching $37.45. The company's stock had a trading volume of 312,191 shares, compared to its average volume of 564,642. The stock has a market cap of $4.15 billion, a PE ratio of 20.13 and a beta of 0.84. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week 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 business's 50-day moving average is $37.67 and its 200-day moving average is $44.60.

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.