Meitav Investment House Ltd. Has $307.87 Million Stock Position in Tower Semiconductor Ltd. $TSEM

Meitav Investment House Ltd. trimmed its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,777,487 shares of the semiconductor company’s stock after selling 106,288 shares during the quarter. Tower Semiconductor accounts for 3.4% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 7th largest holding. Meitav Investment House Ltd. owned 1.58% of Tower Semiconductor worth $307,871,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TSEM. Amundi increased its stake in Tower Semiconductor by 86.8% during the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after purchasing an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Tower Semiconductor by 4.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after buying an additional 3,954 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tower Semiconductor by 0.7% during the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after buying an additional 662 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Tower Semiconductor during the second quarter valued at about $438,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Tower Semiconductor during the second quarter valued at about $5,809,000. 70.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSEM. Wedbush upped their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Benchmark raised their price target on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Susquehanna lifted their price target on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Tower Semiconductor presently has an average rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Stock Performance

TSEM stock traded down $11.51 during midday trading on Tuesday, hitting $207.44. The company’s stock had a trading volume of 826,209 shares, compared to its average volume of 2,429,424. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 96.68 and a beta of 0.87. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $251.76 and its 200 day moving average price is $182.98. Tower Semiconductor Ltd. has a 1 year low of $43.12 and a 1 year high of $319.94.

Tower Semiconductor 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.