Acadian Asset Management LLC lessened its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report) by 73.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,122 shares of the semiconductor company’s stock after selling 8,667 shares during the quarter. Acadian Asset Management LLC’s holdings in Tower Semiconductor were worth $115,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SNC acquired a new position in Tower Semiconductor in the 3rd quarter valued at about $40,000. US Bancorp DE lifted its holdings in Tower Semiconductor by 50.6% in the first quarter. US Bancorp DE now owns 1,837 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 617 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Tower Semiconductor by 58.1% in the first quarter. Tower Research Capital LLC TRC now owns 3,313 shares of the semiconductor company’s stock worth $141,000 after acquiring an additional 1,218 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Tower Semiconductor during the first quarter worth $208,000. Finally, Mackenzie Financial Corp raised its position in Tower Semiconductor by 9.5% in the second quarter. Mackenzie Financial Corp now owns 5,779 shares of the semiconductor company’s stock valued at $216,000 after purchasing an additional 502 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on TSEM. Craig Hallum upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Thursday, August 17th. Benchmark started coverage on shares of Tower Semiconductor in a report on Wednesday, October 25th. They issued a “buy” rating and a $35.00 price objective on the stock. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, TheStreet lowered Tower Semiconductor from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th.
Tower Semiconductor Trading Up 2.1 %
NASDAQ TSEM opened at $27.82 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.68 and a current ratio of 6.65. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 5.65 and a beta of 0.84. The firm has a 50 day simple moving average of $24.47 and a 200-day simple moving average of $32.23. Tower Semiconductor Ltd. has a one year low of $21.43 and a one year high of $46.50.
Tower Semiconductor Company 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.
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