Meitav Investment House Ltd. cut its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,096,379 shares of the semiconductor company's stock after selling 459,151 shares during the period. Tower Semiconductor comprises about 1.8% of Meitav Investment House Ltd.'s investment portfolio, making the stock its 16th biggest position. Meitav Investment House Ltd. owned approximately 1.89% of Tower Semiconductor worth $108,184,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company's stock valued at $145,961,000 after acquiring an additional 50,000 shares in the last quarter. Y.D. More Investments Ltd increased its stake 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 last quarter. Summit Partners Public Asset Management LLC increased its stake in Tower Semiconductor by 1,146.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company's stock worth $66,227,000 after acquiring an additional 1,376,315 shares during the last quarter. Barclays PLC increased its stake in Tower Semiconductor by 4,081.2% during the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock worth $1,060,000 after acquiring an additional 23,385 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Tower Semiconductor during the third quarter worth approximately $573,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on TSEM shares. Benchmark reissued a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Wedbush reissued an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. StockNews.com cut Tower Semiconductor from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Susquehanna boosted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday, November 14th. Finally, Craig Hallum boosted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Tower Semiconductor has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.
Get Our Latest Stock Analysis on TSEM
Tower Semiconductor Trading Down 3.1 %
Shares of TSEM traded down $1.44 during mid-day trading on Friday, reaching $45.14. 906,869 shares of the company's stock traded hands, compared to its average volume of 863,131. The stock has a market cap of $5.00 billion, a P/E ratio of 24.27 and a beta of 0.88. The stock's 50-day moving average is $50.37 and its two-hundred day moving average is $46.04. Tower Semiconductor Ltd. has a 12 month low of $30.48 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.
Tower Semiconductor Profile
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Free Report)
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.
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