Meitav Investment House Ltd. Lowers Stock Position in Tower Semiconductor Ltd. $TSEM

Meitav Investment House Ltd. trimmed its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.6% during the first quarter, Holdings Channel reports. The fund owned 1,777,487 shares of the semiconductor company’s stock after selling 106,288 shares during the period. Tower Semiconductor makes up approximately 3.4% of Meitav Investment House Ltd.’s portfolio, making the stock its 7th largest position. Meitav Investment House Ltd.’s holdings in Tower Semiconductor were worth $307,871,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSEM. Price T Rowe Associates Inc. MD raised its holdings in shares of Tower Semiconductor by 3,222.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after purchasing an additional 4,541,235 shares during the period. Capital International Investors bought a new position in Tower Semiconductor during the fourth quarter valued at $222,530,000. Goldman Sachs Group Inc. grew its holdings 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 valued at $259,083,000 after purchasing an additional 1,505,421 shares during the period. Turiya Advisors Asia Ltd purchased a new stake in Tower Semiconductor in the fourth quarter worth $172,848,000. Finally, Janus Henderson Group PLC increased its position in Tower Semiconductor by 293.8% in 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 during the last quarter. 70.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on TSEM shares. Benchmark boosted their target price on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wedbush increased their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Susquehanna lifted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Price Performance

Tower Semiconductor stock traded down $11.51 during midday trading on Tuesday, reaching $207.44. 826,209 shares of the stock were exchanged, compared to its average volume of 2,429,424. Tower Semiconductor Ltd. has a 52 week low of $43.12 and a 52 week high of $319.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The firm has a market cap of $23.33 billion, a PE ratio of 96.68 and a beta of 0.87. The company’s fifty day moving average is $251.76 and its 200-day moving average is $182.98.

Tower Semiconductor 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.