Bank Hapoalim BM Lowers Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Bank Hapoalim BM decreased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 37.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,070 shares of the semiconductor company’s stock after selling 3,068 shares during the period. Bank Hapoalim BM’s holdings in Tower Semiconductor were worth $224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Meitav Investment House Ltd. boosted its holdings in Tower Semiconductor by 5.1% during the third quarter. Meitav Investment House Ltd. now owns 2,555,530 shares of the semiconductor company’s stock worth $113,220,000 after buying an additional 123,713 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Tower Semiconductor in the third quarter valued at approximately $573,000. Assenagon Asset Management S.A. acquired a new position in shares of Tower Semiconductor in the third quarter valued at approximately $11,094,000. Signaturefd LLC raised its position in shares of Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,376 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Trading Down 2.0 %

TSEM traded down $0.87 during trading on Thursday, hitting $42.43. 18,624 shares of the company’s stock were exchanged, compared to its average volume of 500,160. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 1 year low of $22.30 and a 1 year high of $46.53. The stock has a 50 day moving average price of $43.25 and a 200 day moving average price of $39.65. The firm has a market cap of $4.70 billion, a P/E ratio of 9.82 and a beta of 0.90.

Wall Street Analyst Weigh In

TSEM has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research report on Monday, September 9th. StockNews.com downgraded shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, July 19th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, Tower Semiconductor has an average rating of “Buy” and a consensus price target of $51.33.

About Tower Semiconductor

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.