Frank Rimerman Advisors LLC Takes Position in Tower Semiconductor Ltd. $TSEM

Frank Rimerman Advisors LLC purchased a new position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,424 shares of the semiconductor company’s stock, valued at approximately $425,000.

Several other large investors have also made changes to their positions in the company. Amundi boosted its position in shares of Tower Semiconductor by 86.8% during the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock worth $771,000 after acquiring an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Tower Semiconductor by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 3,954 shares in the last quarter. Geode Capital Management LLC lifted its stake in Tower Semiconductor by 0.7% during the second quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock worth $4,135,000 after purchasing an additional 662 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Tower Semiconductor during the second quarter worth $438,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tower Semiconductor in the 2nd quarter valued at $5,809,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Down 1.7%

Shares of NASDAQ:TSEM opened at $222.75 on Friday. Tower Semiconductor Ltd. has a 52-week low of $43.12 and a 52-week high of $319.94. The company has a market capitalization of $25.05 billion, a PE ratio of 103.60 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The company has a fifty day moving average of $253.40 and a 200-day moving average of $185.40.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Benchmark lifted their price target on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Susquehanna lifted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Finally, Wedbush increased their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Company Profile

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.