Wellington Management Group LLP Sells 531,339 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Wellington Management Group LLP lessened its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,996,962 shares of the semiconductor company's stock after selling 531,339 shares during the period. Wellington Management Group LLP owned about 1.80% of Tower Semiconductor worth $102,864,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Y.D. More Investments Ltd grew its holdings in shares of Tower Semiconductor by 27.5% during the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company's stock valued at $44,883,000 after purchasing an additional 187,103 shares during the last quarter. Barclays PLC grew its position in Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock worth $1,060,000 after acquiring an additional 23,385 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Tower Semiconductor in the third quarter valued at about $1,979,000. Geode Capital Management LLC raised its holdings in Tower Semiconductor by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company's stock valued at $4,154,000 after buying an additional 823 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Tower Semiconductor by 292.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company's stock valued at $1,506,000 after acquiring an additional 21,773 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company's stock.

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Analyst Ratings Changes

TSEM has been the topic of several recent research reports. Wedbush reaffirmed an "outperform" rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Trading Up 1.9 %

TSEM stock traded up $0.62 during midday trading on Tuesday, hitting $32.47. The stock had a trading volume of 244,363 shares, compared to its average volume of 554,267. 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 business has a fifty day moving average price of $41.93 and a two-hundred day moving average price of $45.63. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $55.31. The firm has a market cap of $3.60 billion, a P/E ratio of 17.46 and a beta of 0.84.

Tower Semiconductor Company 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.