State of New Jersey Common Pension Fund D Acquires 21,773 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

State of New Jersey Common Pension Fund D lifted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 292.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,230 shares of the semiconductor company’s stock after purchasing an additional 21,773 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tower Semiconductor were worth $1,506,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TSEM. Blue Trust Inc. raised its holdings in Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after buying an additional 230 shares during the period. Lester Murray Antman dba SimplyRich bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $663,000. Telligent Fund LP acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth $1,288,000. Y.D. More Investments Ltd boosted its stake in Tower Semiconductor by 27.5% in the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after purchasing an additional 187,103 shares during the period. Finally, Crews Bank & Trust bought a new position in Tower Semiconductor during the 4th quarter worth about $134,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TSEM shares. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Craig Hallum lifted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark restated a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Finally, Susquehanna lifted their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Price Performance

NASDAQ:TSEM opened at $43.04 on Wednesday. The stock has a market capitalization of $4.77 billion, a PE ratio of 23.14 and a beta of 0.88. 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 fifty day simple moving average of $50.11 and a 200 day simple moving average of $46.27. Tower Semiconductor Ltd. has a 1-year low of $30.48 and a 1-year high of $55.31.

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.