State of New Jersey Common Pension Fund D Purchases 21,773 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

State of New Jersey Common Pension Fund D lifted its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 292.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,230 shares of the semiconductor company’s stock after buying an additional 21,773 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tower Semiconductor were worth $1,506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TSEM. Senvest Management LLC increased its holdings in shares of Tower Semiconductor by 1.7% during the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock worth $368,262,000 after purchasing an additional 138,807 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in Tower Semiconductor by 1.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after buying an additional 50,000 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Tower Semiconductor by 203.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock worth $137,444,000 after acquiring an additional 2,083,262 shares during the period. Jennison Associates LLC raised its holdings in Tower Semiconductor by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock valued at $123,529,000 after acquiring an additional 40,038 shares in the last quarter. Finally, Meitav Investment House Ltd. lifted its position in shares of Tower Semiconductor by 5.1% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,555,530 shares of the semiconductor company’s stock valued at $113,220,000 after acquiring an additional 123,713 shares during the period. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Price Performance

TSEM stock opened at $43.04 on Wednesday. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 23.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The company has a 50 day simple moving average of $50.11 and a 200 day simple moving average of $46.27. Tower Semiconductor Ltd. has a 1 year low of $30.48 and a 1 year high of $55.31.

Analysts Set New Price Targets

A number of brokerages recently commented on TSEM. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Craig Hallum boosted their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. Susquehanna boosted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Finally, StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Tower Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.