Tower Semiconductor Ltd. (NASDAQ:TSEM) is Shannon River Fund Management LLC's 4th Largest Position

Shannon River Fund Management LLC lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 18.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,085,891 shares of the semiconductor company's stock after selling 252,324 shares during the period. Tower Semiconductor makes up about 8.3% of Shannon River Fund Management LLC's investment portfolio, making the stock its 4th largest position. Shannon River Fund Management LLC owned approximately 0.98% of Tower Semiconductor worth $55,934,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSEM. R Squared Ltd acquired a new position in shares of Tower Semiconductor in the 4th quarter valued at approximately $61,000. Blue Trust Inc. increased 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 worth $105,000 after acquiring an additional 230 shares during the period. Crews Bank & Trust bought a new stake in shares of Tower Semiconductor during the fourth quarter valued at approximately $134,000. Cornerstone Investment Partners LLC bought a new stake in Tower Semiconductor during the 4th quarter valued at $203,000. Finally, Callan Family Office LLC acquired a new stake in Tower Semiconductor in the fourth quarter worth about $323,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSEM. Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reiterated a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Tower Semiconductor currently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM traded up $1.45 during midday trading on Friday, reaching $35.47. The company's stock had a trading volume of 889,694 shares, compared to its average volume of 561,201. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 19.07 and a beta of 0.84. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $38.80 and a 200 day moving average price of $44.89. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31.

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.