Truist Financial Corp Has $893,000 Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Truist Financial Corp grew its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 34.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,330 shares of the semiconductor company’s stock after buying an additional 4,455 shares during the period. Truist Financial Corp’s holdings in Tower Semiconductor were worth $893,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSEM. State of New Jersey Common Pension Fund D increased its stake in shares of Tower Semiconductor by 292.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company’s stock worth $1,506,000 after purchasing an additional 21,773 shares during the period. Blue Trust Inc. increased its stake in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 230 shares during the last quarter. Lester Murray Antman dba SimplyRich bought a new position in shares of Tower Semiconductor in the 4th quarter valued at $663,000. Telligent Fund LP bought a new position in shares of Tower Semiconductor in the 4th quarter valued at $1,288,000. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Tower Semiconductor by 27.5% during the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after acquiring an additional 187,103 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Stock Up 0.6 %

Shares of NASDAQ:TSEM opened at $42.50 on Friday. Tower Semiconductor Ltd. has a 1 year low of $30.48 and a 1 year high of $55.31. 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 business’s 50-day moving average is $49.44 and its 200-day moving average is $46.34. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 22.85 and a beta of 0.88.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TSEM shares. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Susquehanna lifted their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Craig Hallum lifted their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Company 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.