Taylor Frigon Capital Management LLC Decreases Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Taylor Frigon Capital Management LLC lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,188 shares of the semiconductor company's stock after selling 6,825 shares during the period. Tower Semiconductor accounts for about 1.6% of Taylor Frigon Capital Management LLC's holdings, making the stock its 18th biggest position. Taylor Frigon Capital Management LLC owned 0.06% of Tower Semiconductor worth $3,203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $27,000. R Squared Ltd bought a new stake in Tower Semiconductor during the 4th quarter valued at $61,000. Blue Trust Inc. raised its holdings in Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock valued at $80,000 after buying an additional 1,376 shares during the last quarter. Crews Bank & Trust bought a new stake in Tower Semiconductor during the 4th quarter valued at $134,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Tower Semiconductor in the 3rd quarter worth $330,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSEM. Benchmark reaffirmed a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Wedbush reiterated an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Craig Hallum raised their price target on Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 14th. StockNews.com cut Tower Semiconductor from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Susquehanna boosted their price target on Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.00.

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Tower Semiconductor Trading Up 0.6 %

Shares of NASDAQ TSEM traded up $0.24 during trading hours on Friday, hitting $42.50. 636,491 shares of the company traded hands, compared to its average volume of 833,472. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 22.85 and a beta of 0.88. 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's 50 day moving average price is $49.44 and its 200 day moving average price is $46.34. Tower Semiconductor Ltd. has a 12 month low of $30.48 and a 12 month 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.