Blue Trust Inc. Buys 1,376 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Blue Trust Inc. grew its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 319.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,807 shares of the semiconductor company’s stock after purchasing an additional 1,376 shares during the period. Blue Trust Inc.’s holdings in Tower Semiconductor were worth $80,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TSEM. USA Financial Formulas bought a new stake in Tower Semiconductor in the 3rd quarter valued at $38,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Tower Semiconductor in the 2nd quarter valued at about $177,000. State Board of Administration of Florida Retirement System acquired a new stake in Tower Semiconductor during the 1st quarter worth approximately $164,000. Scientech Research LLC bought a new stake in shares of Tower Semiconductor in the second quarter valued at about $200,000. Finally, ProShare Advisors LLC acquired a new position in shares of Tower Semiconductor during the 1st quarter worth approximately $243,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a report on Monday, September 9th. StockNews.com cut shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 19th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tower Semiconductor presently has an average rating of “Buy” and an average target price of $51.33.

Tower Semiconductor Stock Down 3.5 %

Shares of NASDAQ:TSEM opened at $43.30 on Thursday. The business’s 50-day moving average is $43.25 and its 200-day moving average is $39.65. Tower Semiconductor Ltd. has a 1 year low of $22.30 and a 1 year high of $46.53. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 9.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94.

Tower Semiconductor Profile

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.