Taylor Frigon Capital Management LLC Trims Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Taylor Frigon Capital Management LLC lowered its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 9.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 62,188 shares of the semiconductor company’s stock after selling 6,825 shares during the period. Tower Semiconductor comprises about 1.6% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 18th largest position. Taylor Frigon Capital Management LLC’s holdings in Tower Semiconductor were worth $3,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after purchasing an additional 50,000 shares during the period. Y.D. More Investments Ltd grew its holdings in Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after purchasing an additional 187,103 shares during the period. Summit Partners Public Asset Management LLC grew its holdings in Tower Semiconductor by 1,146.9% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after purchasing an additional 1,376,315 shares during the period. Barclays PLC grew its holdings in Tower Semiconductor by 4,081.2% in the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after purchasing an additional 23,385 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Tower Semiconductor in the third quarter worth about $573,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. Susquehanna increased their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Craig Hallum increased their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Up 1.2 %

Shares of Tower Semiconductor stock opened at $43.54 on Thursday. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 23.41 and a beta of 0.88. The company’s 50 day moving average is $49.77 and its 200 day moving average is $46.29. Tower Semiconductor Ltd. has a twelve month low of $30.48 and a twelve month high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05.

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.