Russell Investments Group Ltd. Sells 66,670 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Russell Investments Group Ltd. cut its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 19.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,477 shares of the semiconductor company's stock after selling 66,670 shares during the quarter. Russell Investments Group Ltd. owned about 0.25% of Tower Semiconductor worth $14,396,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TSEM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tower Semiconductor by 1.7% during the third 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 acquiring an additional 1,645 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Tower Semiconductor during the 3rd quarter valued at about $1,979,000. Barclays PLC boosted its stake in Tower Semiconductor by 4,081.2% in the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock valued at $1,060,000 after acquiring an additional 23,385 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tower Semiconductor by 0.9% during the third quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company's stock worth $4,154,000 after purchasing an additional 823 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of Tower Semiconductor by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 71,678 shares of the semiconductor company's stock valued at $3,172,000 after acquiring an additional 3,168 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

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Wall Street Analyst Weigh In

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

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock traded up $0.77 on Tuesday, reaching $35.11. 184,568 shares of the stock were exchanged, compared to its average volume of 557,078. The firm's 50 day moving average is $39.82 and its 200-day moving average is $45.15. The firm has a market cap of $3.89 billion, a PE ratio of 18.88 and a beta of 0.84. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18.

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.