Waters Parkerson & CO. LLC Sells 217,393 Shares of Tower Semiconductor Ltd. $TSEM

Waters Parkerson & CO. LLC trimmed its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 82.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,450 shares of the semiconductor company’s stock after selling 217,393 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Tower Semiconductor were worth $3,286,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Marshall Wace LLP increased its stake in Tower Semiconductor by 2,402.5% in the 2nd quarter. Marshall Wace LLP now owns 239,994 shares of the semiconductor company’s stock worth $10,404,000 after buying an additional 230,404 shares during the period. American Century Companies Inc. grew its stake in Tower Semiconductor by 43.6% in the 2nd quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock worth $23,786,000 after acquiring an additional 166,533 shares in the last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of Tower Semiconductor by 7.9% during the second quarter. Menora Mivtachim Holdings LTD. now owns 2,027,307 shares of the semiconductor company’s stock worth $87,884,000 after acquiring an additional 148,100 shares during the period. Norges Bank bought a new stake in shares of Tower Semiconductor during the second quarter valued at approximately $6,267,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Tower Semiconductor by 40.6% in the second quarter. Penserra Capital Management LLC now owns 468,481 shares of the semiconductor company’s stock valued at $20,308,000 after purchasing an additional 135,250 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TSEM. Benchmark restated a “buy” rating and set a $150.00 price objective (up from $120.00) on shares of Tower Semiconductor in a report on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Wedbush lowered Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research note on Wednesday, December 31st. Barclays lifted their price objective on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Finally, Susquehanna increased their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a report on Tuesday, November 11th. Two 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 currently has a consensus rating of “Hold” and an average price target of $126.75.

Tower Semiconductor Trading Up 4.7%

TSEM opened at $129.83 on Friday. The firm has a market cap of $13.74 billion, a price-to-earnings ratio of 75.48 and a beta of 0.87. The company has a current ratio of 6.61, a quick ratio of 5.54 and a debt-to-equity ratio of 0.05. Tower Semiconductor Ltd. has a 12 month low of $28.64 and a 12 month high of $132.46. The stock has a fifty day moving average price of $113.76 and a 200-day moving average price of $79.55.

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.