Renaissance Technologies LLC Buys 24,200 Shares of Tower Semiconductor Ltd. $TSEM

Renaissance Technologies LLC grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 9.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 274,749 shares of the semiconductor company’s stock after acquiring an additional 24,200 shares during the period. Renaissance Technologies LLC’s holdings in Tower Semiconductor were worth $48,213,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Tower Semiconductor by 3,222.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after purchasing an additional 4,541,235 shares during the period. Capital International Investors purchased a new stake in shares of Tower Semiconductor in the 4th quarter worth $222,530,000. Goldman Sachs Group Inc. lifted its holdings in shares of Tower Semiconductor by 214.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after buying an additional 1,505,421 shares during the period. Turiya Advisors Asia Ltd bought a new position in shares of Tower Semiconductor during the 4th quarter worth $172,848,000. Finally, Janus Henderson Group PLC grew its position in shares of Tower Semiconductor by 293.8% during the 4th quarter. Janus Henderson Group PLC now owns 1,074,717 shares of the semiconductor company’s stock worth $126,193,000 after buying an additional 801,820 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

TSEM has been the subject of several recent research reports. Wedbush upped their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Finally, Benchmark restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Tower Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $276.75.

Tower Semiconductor Stock Down 3.9%

Shares of NASDAQ TSEM opened at $224.21 on Tuesday. Tower Semiconductor Ltd. has a 12-month low of $43.12 and a 12-month high of $319.94. The stock’s fifty day simple moving average is $254.32 and its two-hundred day simple moving average is $195.21. The stock has a market capitalization of $25.21 billion, a PE ratio of 104.28 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04.

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.