Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 26.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,240 shares of the semiconductor company’s stock after selling 455 shares during the period. NewEdge Advisors LLC’s holdings in Tower Semiconductor were worth $64,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Tower Semiconductor during the fourth quarter worth $61,000. Blue Trust Inc. lifted its holdings in Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after buying an additional 230 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Tower Semiconductor during the 4th quarter worth about $134,000. Cornerstone Investment Partners LLC purchased a new position in shares of Tower Semiconductor in the 4th quarter valued at about $203,000. Finally, Callan Family Office LLC acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth about $323,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $37.29 on Friday. The company’s 50 day simple moving average is $36.80 and its 200-day simple moving average is $44.30. The firm has a market cap of $4.13 billion, a PE ratio of 20.05 and a beta of 0.75. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

Several brokerages have commented on TSEM. Benchmark reiterated a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

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.