Kayne Anderson Rudnick Investment Management LLC lessened its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,203 shares of the semiconductor company’s stock after selling 2,192 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.16% of Tower Semiconductor worth $4,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised its position in Tower Semiconductor by 4.2% in the 1st quarter. Bank of America Corp DE now owns 360,835 shares of the semiconductor company’s stock worth $8,318,000 after buying an additional 14,577 shares during the last quarter. Wells Fargo & Company MN raised its position in Tower Semiconductor by 9.2% in the 2nd quarter. Wells Fargo & Company MN now owns 88,285 shares of the semiconductor company’s stock worth $2,106,000 after buying an additional 7,445 shares during the last quarter. HighVista Strategies LLC purchased a new position in Tower Semiconductor in the 2nd quarter worth about $3,043,000. Dupont Capital Management Corp raised its position in Tower Semiconductor by 24.4% in the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock worth $148,000 after buying an additional 1,219 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Tower Semiconductor by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 500,563 shares of the semiconductor company’s stock worth $11,937,000 after buying an additional 31,572 shares during the last quarter. 45.32% of the stock is owned by hedge funds and other institutional investors.

Shares of Tower Semiconductor Ltd. (TSEM) traded down $0.21 during trading hours on Friday, hitting $34.59. The company had a trading volume of 282,178 shares, compared to its average volume of 698,926. The company has a market cap of $3,240.00, a P/E ratio of 15.85, a PEG ratio of 1.13 and a beta of 0.96. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.34. Tower Semiconductor Ltd. has a 52 week low of $17.36 and a 52 week high of $35.00.

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A number of equities analysts have weighed in on the company. Credit Suisse Group boosted their target price on Tower Semiconductor from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday. Craig Hallum reissued a “buy” rating and issued a $39.00 target price (up previously from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. Drexel Hamilton boosted their price target on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $38.00.

Tower Semiconductor 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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