Granite Investment Partners LLC Sells 5,771 Shares of Tower Semiconductor Ltd. $TSEM

Granite Investment Partners LLC decreased its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 102,856 shares of the semiconductor company’s stock after selling 5,771 shares during the period. Tower Semiconductor accounts for 1.1% of Granite Investment Partners LLC’s investment portfolio, making the stock its 19th largest position. Granite Investment Partners LLC owned about 0.09% of Tower Semiconductor worth $18,049,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in TSEM. USA Financial Formulas purchased a new position in Tower Semiconductor during the 4th quarter valued at about $27,000. Hanson & Doremus Investment Management purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $53,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after buying an additional 300 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor in the fourth quarter valued at approximately $52,000. Finally, SBI Securities Co. Ltd. boosted its position in shares of Tower Semiconductor by 344.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 403 shares during the period. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $216.70 on Thursday. The company’s fifty day moving average price is $252.27 and its 200-day moving average price is $184.38. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The firm has a market capitalization of $24.37 billion, a price-to-earnings ratio of 100.79 and a beta of 0.87. Tower Semiconductor Ltd. has a one year low of $43.12 and a one year high of $319.94.

Analyst Ratings Changes

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

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.