Tectonic Advisors LLC Sells 6,913 Shares of Tower Semiconductor Ltd. $TSEM

Tectonic Advisors LLC lowered its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 26.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,483 shares of the semiconductor company’s stock after selling 6,913 shares during the quarter. Tectonic Advisors LLC’s holdings in Tower Semiconductor were worth $1,409,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of TSEM. Hennessy Advisors Inc. purchased a new position in shares of Tower Semiconductor in the third quarter valued at about $202,000. Calamos Advisors LLC bought a new stake in Tower Semiconductor during the 3rd quarter valued at approximately $699,000. HBK Sorce Advisory LLC purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $224,000. Harbor Capital Advisors Inc. bought a new position in Tower Semiconductor in the 3rd quarter worth approximately $1,168,000. Finally, Spinnaker Investment Group LLC purchased a new stake in Tower Semiconductor during the 3rd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TSEM shares. Barclays boosted their target price on shares of Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Wedbush cut shares of Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research note on Wednesday. Susquehanna increased their price objective on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Benchmark lifted their target price on Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Tower Semiconductor currently has a consensus rating of “Hold” and an average price target of $119.25.

Tower Semiconductor Stock Performance

Shares of NASDAQ:TSEM opened at $121.74 on Friday. The firm has a fifty day simple moving average of $105.95 and a two-hundred day simple moving average of $73.93. Tower Semiconductor Ltd. has a 52 week low of $28.64 and a 52 week high of $129.58. The company has a quick ratio of 5.54, a current ratio of 6.61 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $13.49 billion, a P/E ratio of 70.78 and a beta of 0.87.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.