Voya Investment Management LLC Lowers Stock Position in Tower Semiconductor Ltd. $TSEM

Voya Investment Management LLC cut its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 10.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,034,190 shares of the semiconductor company’s stock after selling 125,133 shares during the period. Voya Investment Management LLC owned about 0.93% of Tower Semiconductor worth $74,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of TSEM. Wellington Management Group LLP boosted its stake in shares of Tower Semiconductor by 12.2% in the first quarter. Wellington Management Group LLP now owns 2,240,229 shares of the semiconductor company’s stock worth $79,887,000 after acquiring an additional 243,267 shares during the period. Marshall Wace LLP increased its stake in Tower Semiconductor by 2,402.5% during the second quarter. Marshall Wace LLP now owns 239,994 shares of the semiconductor company’s stock worth $10,404,000 after acquiring an additional 230,404 shares during the last quarter. Granahan Investment Management LLC purchased a new stake in Tower Semiconductor during the first quarter valued at approximately $6,185,000. American Century Companies Inc. boosted its holdings in shares of Tower Semiconductor by 43.6% in the 2nd quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock worth $23,786,000 after purchasing an additional 166,533 shares during the period. Finally, Menora Mivtachim Holdings LTD. increased its position in shares of Tower Semiconductor by 7.9% during the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 2,027,307 shares of the semiconductor company’s stock valued at $87,884,000 after purchasing an additional 148,100 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSEM. Barclays boosted their target price on shares of Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Wedbush raised their price target on shares of Tower Semiconductor from $85.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Benchmark lifted their price objective on shares of Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Susquehanna increased their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tower Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $119.25.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $119.16 on Friday. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $129.58. 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 company has a market capitalization of $13.21 billion, a PE ratio of 69.28 and a beta of 0.88. The company’s fifty day moving average price is $96.72 and its 200 day moving average price is $68.39.

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.