Bank of New York Mellon Corp Sells 3,683 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Bank of New York Mellon Corp lowered its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 100,535 shares of the semiconductor company’s stock after selling 3,683 shares during the period. Bank of New York Mellon Corp owned about 0.09% of Tower Semiconductor worth $5,179,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TSEM. Point72 Asset Management L.P. increased its holdings in shares of Tower Semiconductor by 203.8% in the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock worth $137,444,000 after purchasing an additional 2,083,262 shares during the last quarter. Summit Partners Public Asset Management LLC grew its holdings in Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after buying an additional 1,376,315 shares in the last quarter. Scopia Capital Management LP purchased a new stake in shares of Tower Semiconductor during the 3rd quarter worth approximately $13,926,000. Y.D. More Investments Ltd boosted its position in shares of Tower Semiconductor by 27.5% during the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after acquiring an additional 187,103 shares during the last quarter. Finally, Senvest Management LLC grew its holdings in shares of Tower Semiconductor by 1.7% in the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock valued at $368,262,000 after purchasing an additional 138,807 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSEM. Wedbush reiterated an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Tower Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $39.04 on Tuesday. Tower Semiconductor Ltd. has a 12-month low of $30.74 and a 12-month high of $55.31. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $46.60 and a 200-day moving average price of $46.21. The firm has a market capitalization of $4.33 billion, a PE ratio of 20.99 and a beta of 0.87.

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.