Portolan Capital Management LLC Purchases New Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Portolan Capital Management LLC bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 74,707 shares of the semiconductor company's stock, valued at approximately $3,848,000. Portolan Capital Management LLC owned 0.07% of Tower Semiconductor as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Invesco Ltd. increased its position in Tower Semiconductor by 251.9% during the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock worth $90,721,000 after buying an additional 1,260,683 shares during the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $33,034,000. American Century Companies Inc. acquired a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $20,015,000. Norges Bank bought a new stake in Tower Semiconductor in the 4th quarter valued at $11,126,000. Finally, Menora Mivtachim Holdings LTD. lifted its holdings in Tower Semiconductor by 16.4% during the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company's stock valued at $69,307,000 after purchasing an additional 189,738 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Performance

TSEM stock traded up $1.45 during trading hours on Friday, hitting $35.47. 889,694 shares of the stock were exchanged, compared to its average volume of 560,527. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.93 billion, a P/E ratio of 19.07 and a beta of 0.84. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $55.31. The company has a 50-day simple moving average of $38.80 and a two-hundred day simple moving average of $44.89.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reissued a "buy" rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.00.

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.