Raymond James Financial Inc. Makes New Investment in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Raymond James Financial Inc. purchased a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,149 shares of the semiconductor company's stock, valued at approximately $1,347,000.

Several other hedge funds have also made changes to their positions in TSEM. Thrivent Financial for Lutherans increased its position in shares of Tower Semiconductor by 12.8% during the third quarter. Thrivent Financial for Lutherans now owns 12,820 shares of the semiconductor company's stock worth $567,000 after acquiring an additional 1,451 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tower Semiconductor by 1.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,189 shares of the semiconductor company's stock worth $4,346,000 after purchasing an additional 1,645 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Tower Semiconductor by 3.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 70,031 shares of the semiconductor company's stock worth $3,100,000 after purchasing an additional 2,070 shares during the period. Point72 Asset Management L.P. raised its position in Tower Semiconductor by 203.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company's stock valued at $137,444,000 after purchasing an additional 2,083,262 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in Tower Semiconductor by 12.6% in the 3rd quarter. Systematic Financial Management LP now owns 761,064 shares of the semiconductor company's stock valued at $33,685,000 after purchasing an additional 85,403 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

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Tower Semiconductor Stock Down 6.2 %

Shares of TSEM traded down $1.95 during mid-day trading on Friday, reaching $29.65. The company's stock had a trading volume of 1,604,675 shares, compared to its average volume of 548,858. 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 Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. The stock has a market cap of $3.29 billion, a PE ratio of 15.94 and a beta of 0.87. The company's 50 day moving average is $42.70 and its 200 day moving average is $45.72.

Analyst Upgrades and Downgrades

TSEM has been the subject of a number of analyst reports. Wedbush reissued an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reiterated a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Tower Semiconductor currently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

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.