Penserra Capital Management LLC Buys 203,176 Shares of Tower Semiconductor Ltd. $TSEM

Penserra Capital Management LLC grew its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 43.4% during the third quarter, Holdings Channel.com reports. The fund owned 671,657 shares of the semiconductor company’s stock after purchasing an additional 203,176 shares during the quarter. Penserra Capital Management LLC’s holdings in Tower Semiconductor were worth $48,560,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TSEM. American Century Companies Inc. lifted its position in shares of Tower Semiconductor by 43.6% during the second quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock valued at $23,786,000 after purchasing an additional 166,533 shares in the last quarter. ARK Investment Management LLC increased its stake in Tower Semiconductor by 24.7% in the 2nd quarter. ARK Investment Management LLC now owns 46,339 shares of the semiconductor company’s stock valued at $2,009,000 after buying an additional 9,180 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Tower Semiconductor in the 3rd quarter valued at about $1,168,000. Jennison Associates LLC lifted its position in shares of Tower Semiconductor by 18.8% during the 3rd quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock worth $168,591,000 after buying an additional 369,600 shares in the last quarter. Finally, Tectonic Advisors LLC boosted its stake in shares of Tower Semiconductor by 17.2% in the 2nd quarter. Tectonic Advisors LLC now owns 26,396 shares of the semiconductor company’s stock worth $1,144,000 after buying an additional 3,883 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $136.40 on Wednesday. Tower Semiconductor Ltd. has a 52-week low of $28.64 and a 52-week high of $142.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61. The stock’s 50-day simple moving average is $122.15 and its 200 day simple moving average is $87.39.

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.