Castleark Management LLC Takes Position in Tower Semiconductor Ltd. $TSEM

Castleark Management LLC acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEMFree Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 53,240 shares of the semiconductor company’s stock, valued at approximately $9,343,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Absolute Gestao de Investimentos Ltda. purchased a new position in Tower Semiconductor during the first quarter worth about $225,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Tower Semiconductor during the first quarter worth about $12,968,000. Renaissance Technologies LLC increased its position in shares of Tower Semiconductor by 9.7% in the first quarter. Renaissance Technologies LLC now owns 274,749 shares of the semiconductor company’s stock worth $48,213,000 after purchasing an additional 24,200 shares during the last quarter. Cetera Investment Advisers raised its stake in Tower Semiconductor by 43.8% in the first quarter. Cetera Investment Advisers now owns 6,954 shares of the semiconductor company’s stock valued at $1,220,000 after purchasing an additional 2,118 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Tower Semiconductor during the first quarter valued at approximately $660,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $233.37 on Monday. The business has a 50-day moving average of $254.80 and a 200 day moving average of $194.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. Tower Semiconductor Ltd. has a 1-year low of $43.12 and a 1-year high of $319.94. The stock has a market capitalization of $26.24 billion, a PE ratio of 108.54 and a beta of 0.87.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSEM. UBS Group reissued a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Wedbush lifted their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Susquehanna increased their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $276.75.

View Our Latest Stock Report on Tower Semiconductor

Tower Semiconductor Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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