NorthCoast Asset Management LLC decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 32.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 66,702 shares of the semiconductor company’s stock after selling 31,810 shares during the period. NorthCoast Asset Management LLC owned about 0.07% of Tower Semiconductor worth $2,051,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its stake in Tower Semiconductor by 9.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after acquiring an additional 876 shares in the last quarter. First Allied Advisory Services Inc. lifted its stake in Tower Semiconductor by 2.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock valued at $1,068,000 after acquiring an additional 905 shares in the last quarter. Dupont Capital Management Corp lifted its stake 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 valued at $148,000 after acquiring an additional 1,219 shares in the last quarter. Renaissance Group LLC lifted its stake in Tower Semiconductor by 7.8% in the 3rd quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 1,506 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its stake in Tower Semiconductor by 3.3% in the 2nd quarter. Engineers Gate Manager LP now owns 53,206 shares of the semiconductor company’s stock valued at $1,269,000 after acquiring an additional 1,706 shares in the last quarter. Hedge funds and other institutional investors own 44.73% of the company’s stock.

TSEM has been the topic of several research reports. Credit Suisse Group initiated coverage on Tower Semiconductor in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $36.00 target price on the stock. Drexel Hamilton boosted their target price on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. BidaskClub upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Craig Hallum restated a “buy” rating and issued a $39.00 target price (up previously from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. Finally, ValuEngine raised Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $38.00.

Tower Semiconductor Ltd. (NASDAQ TSEM) opened at $35.45 on Friday. The firm has a market capitalization of $3,451.57, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.16 and a beta of 0.96. Tower Semiconductor Ltd. has a 1 year low of $17.36 and a 1 year high of $35.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.85 and a current ratio of 3.44.

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Tower Semiconductor Company 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.

Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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