Tower Semiconductor Ltd. $TSEM Shares Bought by Meitav Investment House Ltd.

Meitav Investment House Ltd. grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.2% in the third quarter, Holdings Channel.com reports. The fund owned 2,268,503 shares of the semiconductor company’s stock after purchasing an additional 25,989 shares during the period. Tower Semiconductor makes up about 2.2% of Meitav Investment House Ltd.’s holdings, making the stock its 12th largest holding. Meitav Investment House Ltd.’s holdings in Tower Semiconductor were worth $162,870,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TSEM. Blue Trust Inc. grew its holdings in Tower Semiconductor by 14.8% in the second quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 227 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Tower Semiconductor during the 3rd quarter worth $92,000. Spinnaker Investment Group LLC purchased a new stake in shares of Tower Semiconductor in the 3rd quarter worth about $202,000. Hennessy Advisors Inc. acquired a new stake in Tower Semiconductor in the 3rd quarter valued at about $202,000. Finally, PharVision Advisers LLC acquired a new stake in Tower Semiconductor in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TSEM shares. Benchmark restated a “buy” rating and set a $150.00 target price (up previously from $120.00) on shares of Tower Semiconductor in a research report on Friday, January 9th. Susquehanna lifted their price objective on Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a research report on Tuesday, November 11th. Barclays upped their target price on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Finally, Wedbush downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target for the company. in a research report on Wednesday, December 31st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $126.75.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $129.83 on Friday. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $132.46. The company’s 50 day simple moving average is $113.76 and its 200 day simple moving average is $79.81. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 75.48 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61.

Tower Semiconductor 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.