Migdal Insurance & Financial Holdings Ltd. Raises Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,297,806 shares of the semiconductor company's stock after buying an additional 50,000 shares during the period. Tower Semiconductor accounts for about 2.4% of Migdal Insurance & Financial Holdings Ltd.'s investment portfolio, making the stock its 14th largest position. Migdal Insurance & Financial Holdings Ltd. owned about 2.98% of Tower Semiconductor worth $145,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $27,000. Van ECK Associates Corp increased its position in Tower Semiconductor by 1.6% in the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company's stock worth $1,484,000 after purchasing an additional 522 shares during the last quarter. Meitav Investment House Ltd. increased its position in Tower Semiconductor by 5.1% in the third quarter. Meitav Investment House Ltd. now owns 2,555,530 shares of the semiconductor company's stock worth $113,220,000 after purchasing an additional 123,713 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Tower Semiconductor in the third quarter worth $573,000. Finally, Assenagon Asset Management S.A. bought a new stake in Tower Semiconductor in the third quarter worth $11,094,000. Institutional investors own 70.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of Tower Semiconductor from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 19th. Benchmark restated a "buy" rating and issued a $55.00 price target on shares of Tower Semiconductor in a research report on Monday, September 9th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of "Buy" and an average price target of $51.33.

Tower Semiconductor Trading Up 5.7 %

NASDAQ TSEM traded up $2.48 on Friday, hitting $45.88. 995,345 shares of the stock were exchanged, compared to its average volume of 383,532. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. The stock has a fifty day moving average price of $43.29 and a two-hundred day moving average price of $40.20. The firm has a market capitalization of $5.08 billion, a P/E ratio of 10.36 and a beta of 0.90. Tower Semiconductor Ltd. has a 52-week low of $22.30 and a 52-week high of $46.53.

Tower Semiconductor Company 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.