Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Boosts Stock Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its stake in Tower Semiconductor Ltd. (NASDAQ:TSEMFree Report) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 931,334 shares of the semiconductor company’s stock after purchasing an additional 67,795 shares during the period. Tower Semiconductor accounts for approximately 2.0% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s investment portfolio, making the stock its 12th largest holding. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management’s holdings in Tower Semiconductor were worth $22,873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its stake in shares of Tower Semiconductor by 29.7% during the third quarter. ARK Investment Management LLC now owns 58,944 shares of the semiconductor company’s stock worth $1,448,000 after acquiring an additional 13,492 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of Tower Semiconductor during the third quarter worth about $23,056,000. Victory Capital Management Inc. purchased a new stake in shares of Tower Semiconductor during the third quarter worth about $42,314,000. Quantbot Technologies LP grew its stake in shares of Tower Semiconductor by 290.9% during the third quarter. Quantbot Technologies LP now owns 24,958 shares of the semiconductor company’s stock worth $613,000 after acquiring an additional 18,574 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Tower Semiconductor by 128.1% during the third quarter. Jump Financial LLC now owns 155,298 shares of the semiconductor company’s stock worth $3,814,000 after acquiring an additional 87,214 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TSEM shares. Benchmark assumed coverage on Tower Semiconductor in a research note on Wednesday, October 25th. They set a “buy” rating and a $35.00 price target on the stock. StockNews.com upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Tuesday, November 21st.

Get Our Latest Analysis on Tower Semiconductor

Tower Semiconductor Stock Performance

NASDAQ:TSEM traded up $0.21 during trading hours on Thursday, reaching $29.46. The company had a trading volume of 558,260 shares, compared to its average volume of 583,169. Tower Semiconductor Ltd. has a 1-year low of $21.43 and a 1-year high of $45.87. The firm has a market cap of $3.22 billion, a PE ratio of 5.96 and a beta of 0.94. The business’s 50 day moving average price is $29.44 and its 200-day moving average price is $28.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.65 and a quick ratio of 5.47.

Tower Semiconductor (NASDAQ:TSEMGet Free Report) last announced its quarterly earnings results on Monday, November 13th. The semiconductor company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Tower Semiconductor had a return on equity of 10.85% and a net margin of 37.17%. The company had revenue of $358.17 million during the quarter, compared to the consensus estimate of $359.17 million. Research analysts forecast that Tower Semiconductor Ltd. will post 1.93 EPS for the current year.

Tower Semiconductor Profile

(Free Report)

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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

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