Norges Bank Buys Shares of 215,113 Tower Semiconductor Ltd. (NASDAQ:TSEM)

Norges Bank purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 215,113 shares of the semiconductor company's stock, valued at approximately $11,126,000. Norges Bank owned approximately 0.19% of Tower Semiconductor at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. R Squared Ltd purchased a new stake in Tower Semiconductor in the 4th quarter valued at $61,000. Blue Trust Inc. increased its position in Tower Semiconductor by 12.7% during 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 purchased a new position in Tower Semiconductor during the fourth quarter worth about $134,000. Cornerstone Investment Partners LLC acquired a new position in Tower Semiconductor in the 4th quarter valued at about $203,000. Finally, Callan Family Office LLC purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $323,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Remove Ads

Tower Semiconductor Trading Up 0.7 %

Shares of TSEM stock traded up $0.23 during trading hours on Friday, hitting $33.92. The company had a trading volume of 483,979 shares, compared to its average volume of 558,857. 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 company's fifty day moving average is $40.13 and its 200 day moving average is $45.20. The stock has a market capitalization of $3.76 billion, a PE ratio of 18.24 and a beta of 0.84.

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.