Cambiar Investors LLC Decreases Stock Position in Tower Semiconductor Ltd. $TSEM

Cambiar Investors LLC reduced its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,025 shares of the semiconductor company’s stock after selling 4,000 shares during the period. Cambiar Investors LLC’s holdings in Tower Semiconductor were worth $2,243,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in Tower Semiconductor by 43.6% in the 2nd quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock valued at $23,786,000 after purchasing an additional 166,533 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Tower Semiconductor by 24.7% in the second quarter. ARK Investment Management LLC now owns 46,339 shares of the semiconductor company’s stock valued at $2,009,000 after buying an additional 9,180 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Tower Semiconductor during the third quarter worth approximately $1,168,000. Jennison Associates LLC grew its stake in Tower Semiconductor by 18.8% in 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. Finally, Tectonic Advisors LLC grew its stake in Tower Semiconductor by 17.2% in the 2nd quarter. Tectonic Advisors LLC now owns 26,396 shares of the semiconductor company’s stock worth $1,144,000 after acquiring an additional 3,883 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays raised their price objective on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Wedbush cut Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target for the company. in a report on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Susquehanna boosted their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $150.00 price target (up previously from $120.00) on shares of Tower Semiconductor in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Tower Semiconductor presently has an average rating of “Hold” and an average target price of $126.75.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $132.62 on Wednesday. The firm has a market capitalization of $14.08 billion, a P/E ratio of 77.10 and a beta of 0.87. Tower Semiconductor Ltd. has a 1-year low of $28.64 and a 1-year high of $136.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.61 and a quick ratio of 5.54. The business’s 50-day simple moving average is $118.07 and its 200-day simple moving average is $84.23.

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.