Private Advisor Group LLC Purchases Shares of 20,342 Tower Semiconductor Ltd. $TSEM

Private Advisor Group LLC acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 1st quarter, Holdings Channel.com reports. The fund acquired 20,342 shares of the semiconductor company’s stock, valued at approximately $3,570,000.

A number of other institutional investors have also recently made changes to their positions in TSEM. Price T Rowe Associates Inc. MD increased its holdings in shares of Tower Semiconductor by 3,222.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after purchasing an additional 4,541,235 shares during the last quarter. Vanguard Group Inc. grew its holdings in Tower Semiconductor by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after buying an additional 53,112 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after buying an additional 25,000 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Tower Semiconductor by 214.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after acquiring an additional 1,505,421 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Tower Semiconductor by 0.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after acquiring an additional 15,461 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSEM. Susquehanna increased their target price on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Benchmark boosted their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Wedbush upped their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. 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 currently has an average rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Trading Up 2.3%

Shares of TSEM stock opened at $216.70 on Thursday. Tower Semiconductor Ltd. has a 1 year low of $43.12 and a 1 year high of $319.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The stock’s 50 day simple moving average is $252.27 and its two-hundred day simple moving average is $184.38. The company has a market cap of $24.37 billion, a PE ratio of 100.79 and a beta of 0.87.

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.