Senvest Management LLC Sells 1,699,577 Shares of Tower Semiconductor Ltd. $TSEM

Senvest Management LLC cut its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 42.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,272,079 shares of the semiconductor company’s stock after selling 1,699,577 shares during the period. Tower Semiconductor accounts for 13.2% of Senvest Management LLC’s investment portfolio, making the stock its largest holding. Senvest Management LLC’s holdings in Tower Semiconductor were worth $398,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Tower Semiconductor by 3,222.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after purchasing an additional 4,541,235 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tower Semiconductor by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after purchasing an additional 53,112 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Tower Semiconductor by 0.8% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after buying an additional 25,000 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Tower Semiconductor by 214.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after buying an additional 1,505,421 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of Tower Semiconductor by 0.7% during the third quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after buying an additional 15,461 shares during the period. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $233.37 on Friday. The stock has a market capitalization of $26.24 billion, a price-to-earnings ratio of 108.54 and a beta of 0.87. Tower Semiconductor Ltd. has a 52-week low of $43.12 and a 52-week high of $319.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The stock’s 50 day moving average price is $254.80 and its two-hundred day moving average price is $193.97.

Analyst Ratings Changes

TSEM has been the topic of several recent analyst reports. Benchmark restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Susquehanna increased their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. UBS Group reissued a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Finally, Wedbush boosted their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.75.

Tower Semiconductor Company Profile

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.