Raymond James Financial Inc. Acquires New Shares in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Raymond James Financial Inc. bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,149 shares of the semiconductor company’s stock, valued at approximately $1,347,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSEM. Point72 Asset Management L.P. boosted its stake 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 valued at $137,444,000 after purchasing an additional 2,083,262 shares during the period. Y.D. More Investments Ltd boosted its stake 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 acquiring an additional 187,103 shares in the last quarter. Systematic Financial Management LP increased its position in Tower Semiconductor by 12.6% during the third quarter. Systematic Financial Management LP now owns 761,064 shares of the semiconductor company’s stock worth $33,685,000 after buying an additional 85,403 shares during the period. Sphera Funds Management LTD. boosted its stake in Tower Semiconductor by 40.0% during the 3rd quarter. Sphera Funds Management LTD. now owns 209,441 shares of the semiconductor company’s stock worth $9,270,000 after purchasing an additional 59,841 shares during the period. Finally, Castleark Management LLC purchased a new stake in Tower Semiconductor during the 3rd quarter valued at approximately $5,990,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on TSEM shares. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark reissued a “buy” rating and set a $60.00 price objective 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 company. According to data from MarketBeat.com, the stock presently 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 $37.34 on Thursday. 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’s 50 day moving average is $43.16 and its two-hundred day moving average is $45.82. The firm has a market capitalization of $4.14 billion, a P/E ratio of 20.08 and a beta of 0.87. Tower Semiconductor Ltd. has a 52 week low of $30.74 and a 52 week high of $55.31.

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.