Pictet Asset Management Holding SA Increases Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Pictet Asset Management Holding SA raised its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,159 shares of the semiconductor company’s stock after purchasing an additional 1,449 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Tower Semiconductor were worth $890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Tower Semiconductor during the 4th quarter worth $61,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares during the last quarter. Crews Bank & Trust purchased a new position in shares of Tower Semiconductor in the 4th quarter worth about $134,000. Cornerstone Investment Partners LLC bought a new position in shares of Tower Semiconductor during the 4th quarter valued at about $203,000. Finally, Callan Family Office LLC purchased a new position in shares of Tower Semiconductor during the 4th quarter valued at about $323,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $29.65 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $55.31. The company has a market capitalization of $3.29 billion, a P/E ratio of 15.94 and a beta of 0.87. The stock has a 50 day moving average price of $42.20 and a two-hundred day moving average price of $45.70.

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.