Sei Investments Co. reduced its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,338 shares of the semiconductor company's stock after selling 12,734 shares during the period. Sei Investments Co.'s holdings in Tower Semiconductor were worth $1,254,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Tower Semiconductor during the 4th quarter worth about $61,000. Blue Trust Inc. raised its stake in shares of Tower Semiconductor by 12.7% in 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 acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth about $134,000. Cornerstone Investment Partners LLC purchased a new stake in Tower Semiconductor in the fourth quarter valued at approximately $203,000. Finally, Callan Family Office LLC purchased a new stake in Tower Semiconductor in the fourth quarter valued at approximately $323,000. 70.51% of the stock is owned by hedge funds and other institutional investors.
Tower Semiconductor Stock Performance
TSEM stock traded up $0.23 during trading on Friday, hitting $33.92. 483,979 shares of the company traded hands, compared to its average volume of 558,857. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The company has a market cap of $3.76 billion, a PE ratio of 18.24 and a beta of 0.84. The stock's 50-day simple moving average is $40.13 and its 200 day simple moving average is $45.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23.
Wall Street Analysts Forecast Growth
TSEM has been the subject of several research reports. 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. Benchmark reissued a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Monday. 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, the stock has an average rating of "Moderate Buy" and an average target price of $60.00.
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About Tower Semiconductor
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Free Report)
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.
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