Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC lessened its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 62.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,110 shares of the semiconductor company’s stock after selling 30,468 shares during the period. Boothbay Fund Management LLC’s holdings in Tower Semiconductor were worth $933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Tower Semiconductor by 251.9% in the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company’s stock valued at $90,721,000 after buying an additional 1,260,683 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new stake in shares of Tower Semiconductor during the 4th quarter valued at about $33,034,000. American Century Companies Inc. purchased a new position in shares of Tower Semiconductor in the 4th quarter valued at about $20,015,000. Arvin Capital Management LP acquired a new position in Tower Semiconductor in the 4th quarter worth about $11,243,000. Finally, Norges Bank purchased a new position in Tower Semiconductor during the fourth quarter worth approximately $11,126,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Stock Down 1.7 %

TSEM stock opened at $36.18 on Wednesday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 19.45 and a beta of 0.84. The firm has a 50-day moving average of $37.25 and a two-hundred day moving average of $44.47. Tower Semiconductor Ltd. has a 12 month low of $28.64 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.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Monday, April 7th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a report 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.