Invesco Ltd. Boosts Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Invesco Ltd. lifted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 251.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,761,235 shares of the semiconductor company's stock after acquiring an additional 1,260,683 shares during the period. Invesco Ltd. owned approximately 1.59% of Tower Semiconductor worth $90,721,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TSEM. Polymer Capital Management US LLC acquired a new position in shares of Tower Semiconductor in the fourth quarter valued at about $4,476,000. Polymer Capital Management HK LTD acquired a new position in Tower Semiconductor in the 4th quarter worth approximately $470,000. Yahav Achim Ve Achayot Provident Funds Management Co Ltd. purchased a new position in Tower Semiconductor during the 4th quarter worth approximately $618,000. Envestnet Asset Management Inc. lifted its stake in Tower Semiconductor by 13.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 64,577 shares of the semiconductor company's stock valued at $3,327,000 after acquiring an additional 7,717 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Tower Semiconductor by 42.8% in the 4th quarter. Wells Fargo & Company MN now owns 8,079 shares of the semiconductor company's stock valued at $416,000 after acquiring an additional 2,423 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM traded up $0.70 during trading on Tuesday, reaching $35.04. 364,295 shares of the company's stock traded hands, compared to its average volume of 557,647. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. 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 50-day simple moving average of $39.52 and a 200-day simple moving average of $45.08. The firm has a market cap of $3.88 billion, a PE ratio of 18.84 and a beta of 0.84.

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Wall Street Analyst Weigh In

A number of research firms recently issued reports on TSEM. Wedbush restated an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Monday, April 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.