Tower Semiconductor Ltd. $TSEM Shares Bought by Meitav Investment House Ltd.

Meitav Investment House Ltd. grew its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,268,503 shares of the semiconductor company’s stock after acquiring an additional 25,989 shares during the quarter. Tower Semiconductor comprises approximately 2.2% of Meitav Investment House Ltd.’s portfolio, making the stock its 12th biggest position. Meitav Investment House Ltd. owned approximately 2.05% of Tower Semiconductor worth $162,870,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at $92,000. GAM Holding AG purchased a new position in Tower Semiconductor during the 3rd quarter worth $1,146,000. Hennessy Advisors Inc. purchased a new position in Tower Semiconductor during the 3rd quarter worth $202,000. Calamos Advisors LLC acquired a new position in Tower Semiconductor in the third quarter valued at $699,000. Finally, HBK Sorce Advisory LLC purchased a new stake in shares of Tower Semiconductor in the third quarter valued at about $224,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TSEM. Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Barclays upped their price target on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Susquehanna lifted their price objective on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Benchmark restated a “buy” rating and set a $150.00 price objective (up previously from $120.00) on shares of Tower Semiconductor in a research report on Friday, January 9th. Finally, Wedbush cut shares of Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 target price for the company. in a research note on Wednesday, December 31st. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $126.75.

Tower Semiconductor Trading Up 4.7%

NASDAQ:TSEM opened at $129.83 on Friday. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $132.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61. The stock has a fifty day moving average price of $113.76 and a two-hundred day moving average price of $79.81. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 75.48 and a beta of 0.87.

About Tower Semiconductor

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.