Tower Semiconductor Ltd. (NASDAQ:TSEM) Stock Position Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 58.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,700 shares of the semiconductor company's stock after selling 167,263 shares during the period. JPMorgan Chase & Co. owned 0.11% of Tower Semiconductor worth $6,114,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Tower Semiconductor during the fourth quarter worth about $61,000. Blue Trust Inc. increased its holdings 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 valued at $105,000 after purchasing an additional 230 shares during the period. Crews Bank & Trust acquired a new position in shares of Tower Semiconductor in the fourth quarter valued at approximately $134,000. Cornerstone Investment Partners LLC acquired a new position in shares of Tower Semiconductor in the fourth quarter valued at approximately $203,000. Finally, Callan Family Office LLC purchased a new position in Tower Semiconductor in the fourth quarter worth $323,000. Institutional investors and hedge funds own 70.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wedbush restated an "outperform" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reissued a "buy" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Tower Semiconductor Stock Up 4.3 %

Shares of NASDAQ TSEM traded up $1.51 during trading on Wednesday, reaching $36.90. 121,941 shares of the stock were exchanged, compared to its average volume of 560,795. The business's 50-day moving average price is $38.33 and its 200 day moving average price is $44.77. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 19.84 and a beta of 0.84.

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.