Renaissance Technologies LLC Raises Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Renaissance Technologies LLC boosted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Rating) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,960 shares of the semiconductor company’s stock after acquiring an additional 4,300 shares during the period. Renaissance Technologies LLC owned 0.16% of Tower Semiconductor worth $7,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Tower Semiconductor in the 2nd quarter worth approximately $30,000. Huntington National Bank purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $44,000. Lazard Asset Management LLC purchased a new position in Tower Semiconductor in the 2nd quarter worth approximately $67,000. Aviva PLC purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $72,000. Finally, US Bancorp DE grew its stake in Tower Semiconductor by 369.0% in the 2nd quarter. US Bancorp DE now owns 1,984 shares of the semiconductor company’s stock worth $91,000 after buying an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 53.83% of the company’s stock.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $39.86 on Wednesday. Tower Semiconductor Ltd. has a 52-week low of $39.72 and a 52-week high of $49.13. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 16.68 and a beta of 0.89. The company has a fifty day moving average of $42.13 and a 200-day moving average of $43.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.08 and a current ratio of 3.86.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 17th.

Tower Semiconductor Company Profile

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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.