ARK Investment Management LLC Sells 25,370 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

ARK Investment Management LLC decreased its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEMGet Rating) by 35.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,297 shares of the semiconductor company’s stock after selling 25,370 shares during the period. ARK Investment Management LLC’s holdings in Tower Semiconductor were worth $2,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in shares of Tower Semiconductor by 246.2% in the first quarter. Bank of America Corp DE now owns 572,672 shares of the semiconductor company’s stock worth $27,717,000 after acquiring an additional 407,233 shares during the period. Walleye Capital LLC purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $1,452,000. Gabelli Funds LLC purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $18,334,000. Gamco Investors INC. ET AL purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $370,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $595,000.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Friday, May 27th.

Tower Semiconductor Stock Down 0.1 %

Shares of NASDAQ:TSEM opened at $45.02 on Monday. Tower Semiconductor Ltd. has a 52-week low of $28.42 and a 52-week high of $49.13. The stock has a market cap of $4.92 billion, a P/E ratio of 24.34 and a beta of 1.04. The business’s 50 day moving average is $46.43 and its 200 day moving average is $47.18. The company has a quick ratio of 3.09, a current ratio of 3.81 and a debt-to-equity ratio of 0.12.

Tower Semiconductor Company Profile

(Get Rating)

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, other Asia countries, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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