Foundry Partners LLC Lowers Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Foundry Partners LLC lessened its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 15.3% during the fourth quarter, HoldingsChannel reports. The firm owned 11,355 shares of the semiconductor company’s stock after selling 2,045 shares during the quarter. Foundry Partners LLC’s holdings in Tower Semiconductor were worth $585,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TSEM. Blue Trust Inc. lifted its position in Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after buying an additional 230 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tower Semiconductor by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 94,666 shares of the semiconductor company’s stock worth $4,876,000 after acquiring an additional 819 shares during the period. Hunter Perkins Capital Management LLC boosted its position in shares of Tower Semiconductor by 3.9% in the fourth quarter. Hunter Perkins Capital Management LLC now owns 21,655 shares of the semiconductor company’s stock worth $1,115,000 after acquiring an additional 820 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Tower Semiconductor in the fourth quarter worth approximately $61,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tower Semiconductor by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,593 shares of the semiconductor company’s stock worth $1,421,000 after purchasing an additional 1,306 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $29.65 on Friday. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 15.94 and a beta of 0.87. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $42.20 and its 200 day simple moving average is $45.64.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSEM. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. Benchmark reissued a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Tower Semiconductor 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.