SG Americas Securities LLC purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 26,495 shares of the semiconductor company’s stock, valued at approximately $1,149,000.
A number of other large investors also recently made changes to their positions in TSEM. TCTC Holdings LLC grew its position in shares of Tower Semiconductor by 117.9% in the first quarter. TCTC Holdings LLC now owns 706 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 382 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Tower Semiconductor in the 1st quarter worth about $39,000. Blue Trust Inc. grew its holdings in Tower Semiconductor by 14.8% in the 2nd quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock valued at $76,000 after buying an additional 227 shares during the period. Headlands Technologies LLC acquired a new position in shares of Tower Semiconductor during the 1st quarter valued at about $75,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Tower Semiconductor during the 2nd quarter valued at about $228,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.
Tower Semiconductor Stock Up 2.2%
Shares of NASDAQ TSEM opened at $93.65 on Friday. The stock has a fifty day moving average price of $79.31 and a 200 day moving average price of $58.11. The company has a current ratio of 6.57, a quick ratio of 5.50 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $106.74. The company has a market cap of $10.38 billion, a P/E ratio of 53.82 and a beta of 0.94.
Analyst Ratings Changes
Several research firms recently issued reports on TSEM. Weiss Ratings reissued a “hold (c-)” rating on shares of Tower Semiconductor in a research report on Thursday, November 13th. Barclays increased their price target on shares of Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Wedbush boosted their price objective on shares of Tower Semiconductor from $85.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Benchmark increased their target price on Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Susquehanna lifted their target price on Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.25.
Read Our Latest Analysis on Tower Semiconductor
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.
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