WCM Investment Management LLC Has $3.81 Million Stock Holdings in Tower Semiconductor Ltd. $TSEM

WCM Investment Management LLC decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 88.3% during the 1st quarter, Holdings Channel reports. The firm owned 21,710 shares of the semiconductor company’s stock after selling 164,272 shares during the quarter. WCM Investment Management LLC’s holdings in Tower Semiconductor were worth $3,810,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TSEM. Price T Rowe Associates Inc. MD lifted its holdings in Tower Semiconductor by 3,222.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock valued at $549,779,000 after purchasing an additional 4,541,235 shares during the last quarter. Capital International Investors bought a new stake in Tower Semiconductor during the fourth quarter worth about $222,530,000. Goldman Sachs Group Inc. grew its stake in Tower Semiconductor by 214.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after buying an additional 1,505,421 shares during the last quarter. Turiya Advisors Asia Ltd acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $172,848,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Tower Semiconductor by 293.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,074,717 shares of the semiconductor company’s stock worth $126,193,000 after buying an additional 801,820 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 2.9%

Shares of NASDAQ:TSEM opened at $227.21 on Tuesday. Tower Semiconductor Ltd. has a 12 month low of $43.12 and a 12 month high of $319.94. The company’s 50-day moving average price is $255.84 and its two-hundred day moving average price is $190.84. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The firm has a market cap of $25.55 billion, a P/E ratio of 105.68 and a beta of 0.87.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of research analyst reports. Susquehanna lifted their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. UBS Group restated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Benchmark reaffirmed a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Finally, Wedbush lifted their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $276.75.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.