Migdal Insurance & Financial Holdings Ltd. Buys 200,000 Shares of Tower Semiconductor Ltd. $TSEM

Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 7.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,977,806 shares of the semiconductor company’s stock after buying an additional 200,000 shares during the quarter. Tower Semiconductor makes up approximately 2.3% of Migdal Insurance & Financial Holdings Ltd.’s investment portfolio, making the stock its 17th biggest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in Tower Semiconductor were worth $215,295,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Tower Semiconductor by 14.8% during the 2nd quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock worth $76,000 after purchasing an additional 227 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Tower Semiconductor during the third quarter worth $92,000. Spinnaker Investment Group LLC acquired a new stake in Tower Semiconductor during the third quarter worth $202,000. Hennessy Advisors Inc. bought a new stake in Tower Semiconductor in the 3rd quarter valued at $202,000. Finally, PharVision Advisers LLC acquired a new position in shares of Tower Semiconductor in the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Wedbush downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a report on Wednesday, December 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Barclays boosted their price target on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Benchmark reissued 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. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and an average target price of $126.75.

Tower Semiconductor Stock Down 0.6%

Shares of TSEM opened at $129.00 on Wednesday. The company has a market capitalization of $14.30 billion, a P/E ratio of 75.00 and a beta of 0.87. Tower Semiconductor Ltd. has a one year low of $28.64 and a one year high of $132.46. The business’s 50 day simple moving average is $114.98 and its 200-day simple moving average is $81.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.61 and a quick ratio of 5.54.

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.