Vanguard Group Inc. Raises Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Vanguard Group Inc. boosted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,993,287 shares of the semiconductor company’s stock after acquiring an additional 42,969 shares during the period. Vanguard Group Inc. owned about 3.60% of Tower Semiconductor worth $205,954,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TSEM. Y.D. More Investments Ltd increased its holdings in Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after buying an additional 187,103 shares during the last quarter. Barclays PLC boosted its position in shares of Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after acquiring an additional 23,385 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $1,979,000. Geode Capital Management LLC raised its position in shares of Tower Semiconductor by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company’s stock worth $4,154,000 after acquiring an additional 823 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Tower Semiconductor by 292.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company’s stock worth $1,506,000 after purchasing an additional 21,773 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on TSEM shares. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $29.65 on Friday. The stock has a market cap of $3.29 billion, a P/E ratio of 15.94 and a beta of 0.87. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31. The stock has a 50 day moving average of $42.20 and a two-hundred day moving average of $45.67. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05.

About Tower Semiconductor

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.