Renaissance Technologies LLC boosted its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 451,335 shares of the semiconductor company's stock after acquiring an additional 52,086 shares during the period. Renaissance Technologies LLC owned 0.41% of Tower Semiconductor worth $23,248,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in TSEM. R Squared Ltd acquired a new position in shares of Tower Semiconductor in the fourth quarter valued at $61,000. Blue Trust Inc. grew its stake in 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 buying an additional 230 shares during the last quarter. Crews Bank & Trust acquired a new position in Tower Semiconductor in the 4th quarter valued at about $134,000. Cornerstone Investment Partners LLC bought a new position in Tower Semiconductor in the 4th quarter valued at about $203,000. Finally, Callan Family Office LLC acquired a new stake in Tower Semiconductor during the fourth quarter worth approximately $323,000. Institutional investors and hedge funds own 70.51% of the company's stock.
Analyst Ratings Changes
TSEM has been the topic of several research reports. Benchmark reaffirmed a "buy" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Monday, April 7th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Tower Semiconductor presently has a consensus rating of "Moderate Buy" and an average target price of $60.00.
Get Our Latest Report on TSEM
Tower Semiconductor Stock Performance
Shares of NASDAQ:TSEM traded up $0.70 on Tuesday, reaching $35.04. 364,295 shares of the company's stock were exchanged, compared to its average volume of 557,647. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31. The company has a fifty day moving average of $39.52 and a 200-day moving average of $45.08. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 18.84 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.
Tower Semiconductor Company Profile
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Free Report)
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.
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