CenterBook Partners LP lowered its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 80.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,575 shares of the semiconductor company's stock after selling 44,750 shares during the quarter. CenterBook Partners LP's holdings in Tower Semiconductor were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. R Squared Ltd purchased a new stake in Tower Semiconductor in the 4th quarter worth approximately $61,000. Blue Trust Inc. increased its stake 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 worth $105,000 after purchasing an additional 230 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth $134,000. Cornerstone Investment Partners LLC bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at $203,000. Finally, Callan Family Office LLC purchased a new position in shares of Tower Semiconductor during the 4th quarter valued at $323,000. Institutional investors own 70.51% of the company's stock.
Tower Semiconductor Price Performance
TSEM traded up $0.70 during trading on Tuesday, hitting $35.04. 364,295 shares of the company traded hands, compared to its average volume of 557,647. The company has a market cap of $3.88 billion, a PE ratio of 18.84 and a beta of 0.84. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. 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 stock's 50-day simple moving average is $39.82 and its two-hundred day simple moving average is $45.15.
Analysts Set New Price Targets
A number of brokerages have issued reports on TSEM. Wedbush reiterated an "outperform" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reiterated a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $60.00.
Check Out Our Latest Stock Report on Tower Semiconductor
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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