Zurcher Kantonalbank Zurich Cantonalbank Acquires 1,306 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 27,593 shares of the semiconductor company’s stock after purchasing an additional 1,306 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tower Semiconductor were worth $1,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC lifted its holdings in Tower Semiconductor by 2.1% during the fourth quarter. Essex Investment Management Co. LLC now owns 183,392 shares of the semiconductor company’s stock worth $9,447,000 after acquiring an additional 3,813 shares in the last quarter. Amundi lifted its holdings in Tower Semiconductor by 86.3% during the fourth quarter. Amundi now owns 11,575 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 5,361 shares in the last quarter. Callan Family Office LLC bought a new position in Tower Semiconductor during the fourth quarter worth about $323,000. Raymond James Financial Inc. bought a new position in Tower Semiconductor during the fourth quarter worth about $1,347,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $203,000. 70.51% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TSEM has been the topic of several recent research reports. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $38.16 on Wednesday. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 20.52 and a beta of 0.87. The business has a 50-day moving average of $46.33 and a 200-day moving average of $46.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. Tower Semiconductor Ltd. has a fifty-two week low of $30.74 and a fifty-two week high of $55.31.

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.