Swiss National Bank Increases Stock Position in Tower Semiconductor Ltd. $TSEM

Swiss National Bank boosted its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 86.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 414,850 shares of the semiconductor company’s stock after acquiring an additional 191,839 shares during the quarter. Swiss National Bank’s holdings in Tower Semiconductor were worth $70,625,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSEM. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the 4th quarter worth $27,000. Hanson & Doremus Investment Management bought a new position in shares of Tower Semiconductor during the first quarter valued at $53,000. CIBC Private Wealth Group LLC boosted its position in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Tower Semiconductor during the fourth quarter valued at $52,000. Finally, SBI Securities Co. Ltd. increased its holdings in Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after buying an additional 403 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Price Performance

Shares of NASDAQ:TSEM opened at $250.91 on Wednesday. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $28.21 billion, a PE ratio of 116.70 and a beta of 0.87. The firm’s 50 day moving average price is $256.44 and its 200-day moving average price is $191.78. Tower Semiconductor Ltd. has a twelve month low of $43.12 and a twelve month high of $319.94.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TSEM shares. Susquehanna upped their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Wedbush lifted their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Finally, UBS Group restated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.75.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.