Swiss National Bank Purchases 191,839 Shares of Tower Semiconductor Ltd. $TSEM

Swiss National Bank raised its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 86.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,850 shares of the semiconductor company’s stock after acquiring an additional 191,839 shares during the quarter. Swiss National Bank owned approximately 0.37% of Tower Semiconductor worth $70,625,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSEM. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the fourth quarter worth about $27,000. Hanson & Doremus Investment Management bought a new position in Tower Semiconductor during the 1st quarter valued at approximately $53,000. CIBC Private Wealth Group LLC lifted its holdings in Tower Semiconductor by 254.2% in the 3rd 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 during the period. Kestra Advisory Services LLC purchased a new stake in Tower Semiconductor in the 4th quarter worth approximately $52,000. Finally, SBI Securities Co. Ltd. grew its position in shares of Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after buying an additional 403 shares during the last quarter. 70.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush boosted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Susquehanna raised their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Finally, Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.75.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $250.91 on Wednesday. The business has a fifty day moving average price of $256.44 and a 200-day moving average price of $191.78. 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 company has a market capitalization of $28.21 billion, a PE ratio of 116.70 and a beta of 0.87. Tower Semiconductor Ltd. has a 1-year low of $43.12 and a 1-year high of $319.94.

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.