Essex Investment Management Co. LLC Raises Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Essex Investment Management Co. LLC raised its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 183,392 shares of the semiconductor company’s stock after buying an additional 3,813 shares during the quarter. Tower Semiconductor comprises 1.7% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 6th largest position. Essex Investment Management Co. LLC’s holdings in Tower Semiconductor were worth $9,447,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Transcendent Capital Group LLC bought a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $27,000. R Squared Ltd bought a new stake in shares of Tower Semiconductor during the fourth quarter valued at approximately $61,000. Blue Trust Inc. boosted its position in shares of Tower Semiconductor by 12.7% during the fourth 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 in the last quarter. Crews Bank & Trust bought a new stake in shares of Tower Semiconductor during the fourth quarter valued at approximately $134,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Tower Semiconductor during the fourth quarter valued at approximately $203,000. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Stock Up 0.6 %

Shares of NASDAQ:TSEM opened at $39.30 on Friday. The stock has a fifty day simple moving average of $48.28 and a two-hundred day simple moving average of $46.36. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 21.13 and a beta of 0.87. Tower Semiconductor Ltd. has a 12-month low of $30.48 and a 12-month high of $55.31. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05.

Analyst Upgrades and Downgrades

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

About Tower Semiconductor

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.