Van ECK Associates Corp Increases Stock Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Van ECK Associates Corp lifted its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,680 shares of the semiconductor company’s stock after acquiring an additional 522 shares during the period. Van ECK Associates Corp’s holdings in Tower Semiconductor were worth $1,484,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at approximately $38,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares in the last quarter. Signaturefd LLC lifted its stake in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Tower Semiconductor during the 2nd quarter worth about $177,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Tower Semiconductor during the 1st quarter worth about $164,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on TSEM. Benchmark restated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Monday, September 9th. StockNews.com cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a buy rating, According to MarketBeat, Tower Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $51.33.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $46.64 on Tuesday. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $43.29 and a two-hundred day moving average price of $40.26. Tower Semiconductor Ltd. has a 1-year low of $22.30 and a 1-year high of $48.10. The company has a market cap of $5.17 billion, a P/E ratio of 10.54 and a beta of 0.90.

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.