LPL Financial LLC Trims Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

LPL Financial LLC lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,819 shares of the semiconductor company’s stock after selling 4,187 shares during the period. LPL Financial LLC’s holdings in Tower Semiconductor were worth $1,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $61,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 12.7% during the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Tower Semiconductor during the fourth quarter worth $134,000. Cornerstone Investment Partners LLC acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at $203,000. Finally, Callan Family Office LLC purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at $323,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

TSEM has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Benchmark reiterated a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Up 4.3 %

TSEM stock opened at $35.47 on Friday. Tower Semiconductor Ltd. has a fifty-two week low of $28.64 and a fifty-two week high of $55.31. The company’s 50 day moving average price is $39.00 and its 200 day moving average price is $44.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 19.07 and a beta of 0.84.

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.