WCM Investment Management LLC Buys Shares of 82,307 Tower Semiconductor Ltd. $TSEM

WCM Investment Management LLC bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) in the 3rd quarter, HoldingsChannel reports. The fund bought 82,307 shares of the semiconductor company’s stock, valued at approximately $5,803,000.

Other hedge funds also recently made changes to their positions in the company. Senvest Management LLC boosted its position in shares of Tower Semiconductor by 0.9% during the second quarter. Senvest Management LLC now owns 8,128,614 shares of the semiconductor company’s stock worth $352,375,000 after buying an additional 69,207 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Tower Semiconductor by 7.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,977,806 shares of the semiconductor company’s stock valued at $215,295,000 after acquiring an additional 200,000 shares in the last quarter. Jennison Associates LLC boosted its position in 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 acquiring an additional 369,600 shares during the period. Meitav Investment House Ltd. grew its stake in shares of Tower Semiconductor by 1.2% in the third quarter. Meitav Investment House Ltd. now owns 2,268,503 shares of the semiconductor company’s stock worth $162,870,000 after purchasing an additional 25,989 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. increased its holdings in shares of Tower Semiconductor by 7.9% during the second 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 period. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 0.4%

Shares of NASDAQ:TSEM opened at $136.40 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $142.68. The company has a 50 day moving average price of $122.15 and a 200 day moving average price of $87.39.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several research analyst reports. 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. Susquehanna upped their price target on shares of Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a research note on Tuesday, November 11th. Benchmark reiterated a “buy” rating and set 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 reissued a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Finally, Barclays increased their price target on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.75.

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.