Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Senvest Management LLC

Senvest Management LLC reduced its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,949,938 shares of the semiconductor company's stock after selling 370,495 shares during the period. Tower Semiconductor makes up approximately 12.6% of Senvest Management LLC's investment portfolio, making the stock its biggest holding. Senvest Management LLC owned 7.17% of Tower Semiconductor worth $409,501,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSEM. Blue Trust Inc. boosted its holdings in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock valued at $105,000 after acquiring an additional 230 shares during the last quarter. Mariner LLC raised its stake in shares of Tower Semiconductor by 6.7% during the 4th quarter. Mariner LLC now owns 8,485 shares of the semiconductor company's stock valued at $437,000 after buying an additional 533 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tower Semiconductor by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company's stock valued at $4,876,000 after buying an additional 819 shares during the period. Hunter Perkins Capital Management LLC boosted its stake in shares of Tower Semiconductor by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 21,655 shares of the semiconductor company's stock worth $1,115,000 after buying an additional 820 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Tower Semiconductor during the fourth quarter worth about $61,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Price Performance

Shares of TSEM stock traded up $1.45 on Friday, reaching $35.47. 889,694 shares of the company were exchanged, compared to its average volume of 560,527. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 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. The business has a 50-day moving average price of $38.80 and a 200 day moving average price of $44.89. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 19.07 and a beta of 0.84.

Wall Street Analysts Forecast Growth

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