Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Bank Hapoalim BM

Bank Hapoalim BM lessened its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 37.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,070 shares of the semiconductor company’s stock after selling 3,068 shares during the period. Bank Hapoalim BM’s holdings in Tower Semiconductor were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TSEM. Vanguard Group Inc. raised its holdings in Tower Semiconductor by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,726,278 shares of the semiconductor company’s stock valued at $113,726,000 after acquiring an additional 56,410 shares during the last quarter. Meitav Investment House Ltd. lifted its holdings in Tower Semiconductor by 32.1% during the 1st quarter. Meitav Investment House Ltd. now owns 1,936,437 shares of the semiconductor company’s stock worth $64,775,000 after buying an additional 470,537 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Tower Semiconductor during the 1st quarter worth approximately $1,754,000. Jennison Associates LLC lifted its holdings in Tower Semiconductor by 28.1% during the 1st quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company’s stock worth $88,652,000 after buying an additional 580,610 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Tower Semiconductor during the 1st quarter worth approximately $548,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 2.0 %

NASDAQ:TSEM traded down $0.87 during midday trading on Thursday, hitting $42.43. 18,624 shares of the company were exchanged, compared to its average volume of 500,160. The company has a fifty day simple moving average of $43.25 and a 200 day simple moving average of $39.65. Tower Semiconductor Ltd. has a fifty-two week low of $22.30 and a fifty-two week high of $46.53. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.70 billion, a PE ratio of 9.82 and a beta of 0.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSEM. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. StockNews.com lowered shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Tower Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $51.33.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.