Senvest Management LLC Has $398.70 Million Holdings in Tower Semiconductor Ltd. $TSEM

Senvest Management LLC reduced its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 42.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,272,079 shares of the semiconductor company’s stock after selling 1,699,577 shares during the period. Tower Semiconductor comprises approximately 13.2% of Senvest Management LLC’s investment portfolio, making the stock its largest position. Senvest Management LLC owned 2.02% of Tower Semiconductor worth $398,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSEM. Price T Rowe Associates Inc. MD lifted its stake in Tower Semiconductor by 3,222.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock valued at $549,779,000 after purchasing an additional 4,541,235 shares during the last quarter. Capital International Investors bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $222,530,000. Goldman Sachs Group Inc. grew its stake in shares of Tower Semiconductor by 214.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after buying an additional 1,505,421 shares during the last quarter. Turiya Advisors Asia Ltd acquired a new position in shares of Tower Semiconductor during the fourth quarter worth $172,848,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Tower Semiconductor by 293.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,074,717 shares of the semiconductor company’s stock worth $126,193,000 after buying an additional 801,820 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TSEM has been the topic of several recent research reports. UBS Group reissued a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Susquehanna upped their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Wedbush increased their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.75.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $233.37 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. Tower Semiconductor Ltd. has a 52 week low of $43.12 and a 52 week high of $319.94. The firm has a market cap of $26.24 billion, a PE ratio of 108.54 and a beta of 0.87. The firm’s fifty day moving average is $254.80 and its 200-day moving average is $193.97.

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.