Renaissance Group LLC Increases Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Renaissance Group LLC lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 172.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 216,674 shares of the semiconductor company's stock after buying an additional 137,161 shares during the quarter. Renaissance Group LLC owned approximately 0.20% of Tower Semiconductor worth $11,161,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its stake in shares of Tower Semiconductor by 27.5% in 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 period. Barclays PLC boosted its stake in Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock worth $1,060,000 after purchasing an additional 23,385 shares during the period. Public Employees Retirement System of Ohio bought a new position in Tower Semiconductor in the 3rd quarter worth approximately $1,979,000. Geode Capital Management LLC grew its holdings in Tower Semiconductor by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company's stock valued at $4,154,000 after buying an additional 823 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Tower Semiconductor by 292.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company's stock valued at $1,506,000 after buying an additional 21,773 shares during the last quarter. Institutional investors own 70.51% of the company's stock.

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Tower Semiconductor Price Performance

Tower Semiconductor stock traded up $0.23 during mid-day trading on Friday, reaching $33.92. 483,979 shares of the company's stock traded hands, compared to its average volume of 558,857. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $40.13 and a two-hundred day moving average of $45.20. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 18.24 and a beta of 0.84.

Wall Street Analyst Weigh In

TSEM has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Monday, April 7th. Wedbush reissued an "outperform" rating and set a $60.00 price objective 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 data from MarketBeat, Tower Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Tower Semiconductor 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.