Raymond James Financial Inc. Makes New Investment in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Raymond James Financial Inc. purchased a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 26,149 shares of the semiconductor company’s stock, valued at approximately $1,347,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Tower Semiconductor by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company’s stock valued at $4,154,000 after buying an additional 823 shares during the last quarter. Barclays PLC increased its stake in shares of Tower Semiconductor by 4,081.2% in the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after purchasing an additional 23,385 shares during the period. Tidal Investments LLC lifted its position in shares of Tower Semiconductor by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 71,678 shares of the semiconductor company’s stock worth $3,172,000 after purchasing an additional 3,168 shares during the last quarter. Oliver Luxxe Assets LLC boosted its stake in Tower Semiconductor by 5.5% during the 4th quarter. Oliver Luxxe Assets LLC now owns 44,378 shares of the semiconductor company’s stock valued at $2,292,000 after purchasing an additional 2,322 shares during the period. Finally, Dakota Wealth Management acquired a new stake in Tower Semiconductor in the 4th quarter valued at approximately $920,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

TSEM has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Up 2.4 %

Shares of TSEM stock opened at $37.29 on Friday. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The stock has a fifty day moving average price of $36.80 and a 200 day moving average price of $44.30. The stock has a market cap of $4.13 billion, a P/E ratio of 20.05 and a beta of 0.75.

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.