Wolverine Asset Management LLC Sells 3,100 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Wolverine Asset Management LLC decreased its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 41.6% during the third quarter, HoldingsChannel reports. The fund owned 4,357 shares of the semiconductor company’s stock after selling 3,100 shares during the quarter. Wolverine Asset Management LLC’s holdings in Tower Semiconductor were worth $193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TSEM. Transcendent Capital Group LLC bought a new stake in shares of Tower Semiconductor during the 3rd quarter valued at $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the third quarter valued at about $38,000. Blue Trust Inc. lifted its holdings in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after buying an additional 1,376 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after buying an additional 431 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Tower Semiconductor in the first quarter valued at approximately $164,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $46.30 on Friday. Tower Semiconductor Ltd. has a fifty-two week low of $26.62 and a fifty-two week high of $50.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. The stock has a market cap of $5.13 billion, a P/E ratio of 10.47 and a beta of 0.90. The firm’s fifty day moving average price is $43.52 and its 200-day moving average price is $40.50.

Wall Street Analyst Weigh In

Several analysts have issued reports on TSEM shares. Craig Hallum increased their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna increased their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday. Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research note on Thursday. Finally, StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

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.