Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Bank Hapoalim BM

by · The Cerbat Gem

Bank Hapoalim BM lessened its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report) by 37.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,070 shares of the semiconductor company’s stock after selling 3,068 shares during the period. Bank Hapoalim BM’s holdings in Tower Semiconductor were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TSEM. Vanguard Group Inc. raised its holdings in Tower Semiconductor by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,726,278 shares of the semiconductor company’s stock valued at $113,726,000 after acquiring an additional 56,410 shares during the last quarter. Meitav Investment House Ltd. lifted its holdings in Tower Semiconductor by 32.1% during the 1st quarter. Meitav Investment House Ltd. now owns 1,936,437 shares of the semiconductor company’s stock worth $64,775,000 after buying an additional 470,537 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Tower Semiconductor during the 1st quarter worth approximately $1,754,000. Jennison Associates LLC lifted its holdings in Tower Semiconductor by 28.1% during the 1st quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company’s stock worth $88,652,000 after buying an additional 580,610 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Tower Semiconductor during the 1st quarter worth approximately $548,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 2.0 %

NASDAQ:TSEM traded down $0.87 during midday trading on Thursday, hitting $42.43. 18,624 shares of the company were exchanged, compared to its average volume of 500,160. The company has a fifty day simple moving average of $43.25 and a 200 day simple moving average of $39.65. Tower Semiconductor Ltd. has a fifty-two week low of $22.30 and a fifty-two week high of $46.53. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $4.70 billion, a PE ratio of 9.82 and a beta of 0.90.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSEM. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. StockNews.com lowered shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Tower Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $51.33.

View Our Latest Research Report on Tower Semiconductor

Tower Semiconductor Company Profile

(Free Report)

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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