Public Employees Retirement System of Ohio Sells 56,303 Shares of Tower Semiconductor Ltd. $TSEM

Public Employees Retirement System of Ohio reduced its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 90.6% in the 1st quarter, HoldingsChannel reports. The firm owned 5,861 shares of the semiconductor company’s stock after selling 56,303 shares during the period. Public Employees Retirement System of Ohio’s holdings in Tower Semiconductor were worth $999,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hanson & Doremus Investment Management acquired a new position in Tower Semiconductor during the first quarter worth approximately $53,000. CIBC Private Wealth Group LLC boosted its stake in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $52,000. SBI Securities Co. Ltd. increased its holdings in shares of Tower Semiconductor by 344.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 403 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $76,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $234.32 on Tuesday. Tower Semiconductor Ltd. has a 12 month low of $45.51 and a 12 month high of $319.94. The stock’s 50 day moving average is $248.21 and its 200-day moving average is $198.38. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 108.99 and a beta of 0.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Susquehanna raised their price target on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a report on Thursday, May 14th. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Wedbush increased their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, Benchmark restated a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $276.75.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.