SEB Asset Management AB Makes New $1.49 Million Investment in Tower Semiconductor Ltd. $TSEM

SEB Asset Management AB bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the first quarter, Holdings Channel.com reports. The firm bought 8,721 shares of the semiconductor company’s stock, valued at approximately $1,488,000.

Several other large investors have also modified their holdings of TSEM. Y.D. More Investments Ltd boosted its position in shares of Tower Semiconductor by 4.6% in the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock valued at $118,084,000 after purchasing an additional 44,401 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in Tower Semiconductor by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after buying an additional 25,000 shares during the period. Rockingstone Advisors LLC acquired a new position in Tower Semiconductor during the fourth quarter worth approximately $5,296,000. GF Fund Management CO. LTD. lifted its stake in Tower Semiconductor by 26,835.5% in the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock valued at $36,214,000 after buying an additional 307,267 shares during the last quarter. Finally, WT Asset Management Ltd purchased a new stake in Tower Semiconductor in the fourth quarter valued at approximately $78,967,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $260.42 on Friday. The firm’s fifty day simple moving average is $255.61 and its 200-day simple moving average is $193.69. 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 stock has a market cap of $29.28 billion, a PE ratio of 121.13 and a beta of 0.87. Tower Semiconductor Ltd. has a fifty-two week low of $43.12 and a fifty-two week high of $319.94.

Analyst Ratings Changes

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

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.