26,149 Shares in Tower Semiconductor Ltd. (NASDAQ:TSEM) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, Holdings Channel reports. The fund bought 26,149 shares of the semiconductor company’s stock, valued at approximately $1,347,000.

Several other hedge funds have also modified their holdings of TSEM. Point72 Asset Management L.P. boosted 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 valued at $137,444,000 after purchasing an additional 2,083,262 shares during the period. Y.D. More Investments Ltd increased its stake in Tower Semiconductor by 27.5% in the fourth 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 during the period. Castleark Management LLC acquired a new position in Tower Semiconductor in the third quarter worth about $5,990,000. Systematic Financial Management LP lifted its stake in Tower Semiconductor by 12.6% during the third quarter. Systematic Financial Management LP now owns 761,064 shares of the semiconductor company’s stock worth $33,685,000 after purchasing an additional 85,403 shares during the period. Finally, Sphera Funds Management LTD. boosted its holdings in Tower Semiconductor by 40.0% during the third quarter. Sphera Funds Management LTD. now owns 209,441 shares of the semiconductor company’s stock valued at $9,270,000 after purchasing an additional 59,841 shares in the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSEM. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark restated a “buy” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Trading Up 2.4 %

Shares of NASDAQ:TSEM opened at $37.34 on Thursday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 20.08 and a beta of 0.87. Tower Semiconductor Ltd. has a 12 month low of $30.74 and a 12 month high of $55.31. The company’s fifty day simple moving average is $43.16 and its 200 day simple moving average is $45.82. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05.

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.