Bank of New York Mellon Corp purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 39,071 shares of the semiconductor company’s stock, valued at approximately $1,202,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Spectrum Asset Management Inc. NB CA bought a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $290,000. Swiss National Bank grew its holdings in shares of Tower Semiconductor by 2.5% in the 3rd quarter. Swiss National Bank now owns 153,617 shares of the semiconductor company’s stock valued at $4,727,000 after acquiring an additional 3,796 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Tower Semiconductor by 7.8% in the 3rd quarter. Principal Financial Group Inc. now owns 575,086 shares of the semiconductor company’s stock valued at $17,684,000 after acquiring an additional 41,505 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $1,170,000. Finally, Monarch Partners Asset Management LLC bought a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $15,362,000. 43.97% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Ltd. (NASDAQ TSEM) opened at $34.78 on Friday. The firm has a market capitalization of $3,240.00, a PE ratio of 19.11, a PEG ratio of 0.97 and a beta of 0.96. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.34. Tower Semiconductor Ltd. has a 1-year low of $19.92 and a 1-year high of $36.69.

TSEM has been the subject of several analyst reports. Credit Suisse Group initiated coverage on Tower Semiconductor in a report on Tuesday, September 26th. They issued an “outperform” rating and a $36.00 price objective for the company. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Drexel Hamilton raised their price objective on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. BidaskClub cut Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, December 5th. Finally, Needham & Company LLC raised their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a report on Thursday, November 30th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $43.75.

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Tower Semiconductor Company Profile

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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