State of New Jersey Common Pension Fund D Purchases 21,773 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

State of New Jersey Common Pension Fund D lifted its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 292.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,230 shares of the semiconductor company's stock after buying an additional 21,773 shares during the period. State of New Jersey Common Pension Fund D's holdings in Tower Semiconductor were worth $1,506,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TSEM. Transcendent Capital Group LLC bought a new position in Tower Semiconductor during the third quarter worth about $27,000. R Squared Ltd bought a new position in Tower Semiconductor during the fourth quarter worth about $61,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock worth $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC lifted its stake in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock worth $109,000 after purchasing an additional 431 shares during the period. Finally, Crews Bank & Trust bought a new position in Tower Semiconductor during the fourth quarter worth about $134,000. Institutional investors own 70.51% of the company's stock.

Wall Street Analyst Weigh In

TSEM has been the subject of a number of analyst reports. StockNews.com cut shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Benchmark restated a "buy" rating and set a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Craig Hallum lifted their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Wedbush reissued an "outperform" rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Finally, Susquehanna raised their price target on Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tower Semiconductor currently has an average rating of "Moderate Buy" and an average target price of $60.00.

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Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM traded up $0.24 during midday trading on Friday, reaching $42.50. The company's stock had a trading volume of 636,491 shares, compared to its average volume of 833,472. Tower Semiconductor Ltd. has a fifty-two week low of $30.48 and a fifty-two week high of $55.31. The company has a market capitalization of $4.71 billion, a P/E ratio of 22.85 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The business's fifty day simple moving average is $49.44 and its 200-day simple moving average is $46.29.

About Tower Semiconductor

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.