Cornerstone Investment Partners LLC Makes New $203,000 Investment in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Cornerstone Investment Partners LLC bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,934 shares of the semiconductor company’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. boosted its holdings in Tower Semiconductor by 203.8% in the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after acquiring an additional 2,083,262 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its stake in shares of Tower Semiconductor by 1,146.9% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after purchasing an additional 1,376,315 shares during the last quarter. Scopia Capital Management LP bought a new stake in shares of Tower Semiconductor during the third quarter worth approximately $13,926,000. Y.D. More Investments Ltd raised its stake in shares of Tower Semiconductor by 27.5% during the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after buying an additional 187,103 shares during the last quarter. Finally, Senvest Management LLC lifted its holdings in Tower Semiconductor by 1.7% in the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock valued at $368,262,000 after buying an additional 138,807 shares during the period. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 0.3 %

NASDAQ:TSEM opened at $41.43 on Wednesday. Tower Semiconductor Ltd. has a 1 year low of $30.48 and a 1 year high of $55.31. The stock has a 50-day moving average price of $49.03 and a two-hundred day moving average price of $46.41. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 22.27 and a beta of 0.88. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several recent research reports. Susquehanna upped their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. Craig Hallum raised their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.