Tower Semiconductor Ltd. (TSEM) Stake Increased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 13,188.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,931 shares of the semiconductor company’s stock after acquiring an additional 99,179 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Tower Semiconductor worth $3,073,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parametric Portfolio Associates LLC grew its position in Tower Semiconductor by 9.3% during the second quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 876 shares during the period. First Allied Advisory Services Inc. grew its position in Tower Semiconductor by 2.1% during the second quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock valued at $1,068,000 after buying an additional 905 shares during the period. Dupont Capital Management Corp grew its position in Tower Semiconductor by 24.4% during the second quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after buying an additional 1,219 shares during the period. Renaissance Group LLC grew its position in Tower Semiconductor by 7.8% during the third quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock valued at $637,000 after buying an additional 1,506 shares during the period. Finally, Engineers Gate Manager LP grew its position in Tower Semiconductor by 3.3% during the second quarter. Engineers Gate Manager LP now owns 53,206 shares of the semiconductor company’s stock valued at $1,269,000 after buying an additional 1,706 shares during the period. Hedge funds and other institutional investors own 42.33% of the company’s stock.

Tower Semiconductor Ltd. (TSEM) opened at $33.15 on Wednesday. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.34. The firm has a market cap of $3,264.07, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.10 and a beta of 0.97. Tower Semiconductor Ltd. has a 1 year low of $18.74 and a 1 year high of $36.69.

Several research firms recently weighed in on TSEM. ValuEngine upgraded shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Craig Hallum restated a “buy” rating and set a $39.00 price target (up previously from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. Needham & Company LLC increased their price target on shares of Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 30th. Credit Suisse Group increased their price target on shares of Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Finally, BidaskClub lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.75.

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Tower Semiconductor Profile

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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