Meitav Investment House Ltd. Decreases Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Meitav Investment House Ltd. trimmed its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 18.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,096,379 shares of the semiconductor company’s stock after selling 459,151 shares during the period. Tower Semiconductor comprises 1.8% of Meitav Investment House Ltd.’s portfolio, making the stock its 16th largest position. Meitav Investment House Ltd. owned 1.89% of Tower Semiconductor worth $108,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after acquiring an additional 50,000 shares in the last quarter. Y.D. More Investments Ltd raised 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 worth $44,883,000 after purchasing an additional 187,103 shares in the last quarter. Summit Partners Public Asset Management LLC boosted its holdings in shares of 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. Barclays PLC grew its position in shares of Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after buying an additional 23,385 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Tower Semiconductor in the 3rd quarter worth about $573,000. Institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TSEM shares. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna upped their price target on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Finally, Craig Hallum raised their price target on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One equities 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 has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $47.18 on Thursday. The company has a 50 day moving average of $50.44 and a 200 day moving average of $46.04. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a twelve month low of $30.48 and a twelve month high of $55.31. The firm has a market cap of $5.23 billion, a P/E ratio of 25.37 and a beta of 0.88.

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.