Keybank National Association OH Reduces Stake in Tower Semiconductor Ltd. $TSEM

Keybank National Association OH reduced its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 41.4% during the 1st quarter, HoldingsChannel reports. The fund owned 5,597 shares of the semiconductor company’s stock after selling 3,952 shares during the period. Keybank National Association OH’s holdings in Tower Semiconductor were worth $982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TSEM. Amundi raised its holdings in Tower Semiconductor by 86.8% during the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after buying an additional 10,042 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Tower Semiconductor by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock worth $3,553,000 after buying an additional 3,954 shares during the period. Geode Capital Management LLC increased its position in Tower Semiconductor by 0.7% during the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 662 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Tower Semiconductor in the second quarter valued at $438,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Tower Semiconductor in the 2nd quarter worth about $5,809,000. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Down 3.2%

NASDAQ TSEM opened at $211.93 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The firm has a market cap of $23.83 billion, a PE ratio of 98.57 and a beta of 0.87. Tower Semiconductor Ltd. has a one year low of $43.12 and a one year high of $319.94. The firm’s fifty day moving average is $252.00 and its two-hundred day moving average is $183.67.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Susquehanna increased their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Benchmark upped their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Wedbush increased their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $276.75.

About Tower Semiconductor

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.