Swedbank AB Purchases Shares of 80,500 Tower Semiconductor Ltd. $TSEM

Swedbank AB purchased a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 80,500 shares of the semiconductor company’s stock, valued at approximately $14,126,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. USA Financial Formulas acquired a new stake in Tower Semiconductor in the 4th quarter valued at approximately $27,000. CIBC Private Wealth Group LLC raised 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 valued at $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Tower Semiconductor in the third quarter worth $48,000. Kestra Advisory Services LLC bought a new stake in shares of Tower Semiconductor in the fourth quarter worth $52,000. Finally, Hanson & Doremus Investment Management acquired a new position in Tower Semiconductor during the first quarter worth $53,000. 70.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Tower Semiconductor Stock Up 4.6%

TSEM stock opened at $226.58 on Friday. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The company has a market cap of $25.48 billion, a PE ratio of 105.39 and a beta of 0.87. The business has a 50-day simple moving average of $252.93 and a 200 day simple moving average of $185.14. Tower Semiconductor Ltd. has a 52 week low of $43.12 and a 52 week high of $319.94.

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.