Keybank National Association OH Sells 3,952 Shares of Tower Semiconductor Ltd. $TSEM

Keybank National Association OH lessened its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 41.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,597 shares of the semiconductor company’s stock after selling 3,952 shares during the quarter. Keybank National Association OH’s holdings in Tower Semiconductor were worth $982,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. USA Financial Formulas purchased a new stake in Tower Semiconductor in the 4th quarter valued at $27,000. CIBC Private Wealth Group LLC raised its holdings in shares of Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Tower Semiconductor in the third quarter valued at about $48,000. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor during the fourth quarter valued at about $52,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Tower Semiconductor during the first quarter valued at about $53,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Benchmark increased their price target on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Susquehanna upped their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Finally, Wedbush raised their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Stock Down 3.2%

TSEM stock opened at $211.93 on Wednesday. The business has a 50 day moving average of $252.00 and a 200 day moving average of $183.67. The firm has a market cap of $23.83 billion, a PE ratio of 98.57 and a beta of 0.87. Tower Semiconductor Ltd. has a twelve month low of $43.12 and a twelve month high of $319.94. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04.

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.