Legal & General Group Plc lowered its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 345,160 shares of the semiconductor company's stock after selling 38,579 shares during the quarter. Legal & General Group Plc owned 0.31% of Tower Semiconductor worth $17,894,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in Tower Semiconductor during the fourth quarter valued at about $61,000. Blue Trust Inc. grew its holdings in shares of Tower Semiconductor by 12.7% during the 4th 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 last quarter. Crews Bank & Trust purchased a new position in Tower Semiconductor in the 4th quarter worth $134,000. Cornerstone Investment Partners LLC purchased a new stake in Tower Semiconductor during the fourth quarter valued at about $203,000. Finally, Callan Family Office LLC purchased a new stake in Tower Semiconductor during the fourth quarter valued at about $323,000. 70.51% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
TSEM has been the subject of a number of recent research reports. Wedbush reissued an "outperform" rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reiterated a "buy" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Monday, April 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Tower Semiconductor has a consensus rating of "Moderate Buy" and an average price target of $60.00.
Get Our Latest Stock Analysis on Tower Semiconductor
Tower Semiconductor Trading Up 4.3 %
NASDAQ:TSEM traded up $1.45 during mid-day trading on Friday, reaching $35.47. 889,694 shares of the company's stock traded hands, compared to its average volume of 560,527. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. 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 company has a 50 day moving average price of $38.80 and a 200-day moving average price of $44.89. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 19.07 and a beta of 0.84.
About Tower Semiconductor
(
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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