Tower Semiconductor Ltd. (NASDAQ:TSEM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 20.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,287,130 shares of the semiconductor company’s stock after selling 591,460 shares during the quarter. Victory Capital Management Inc. owned about 2.06% of Tower Semiconductor worth $101,228,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Essex Investment Management Co. LLC raised its holdings in shares of Tower Semiconductor by 7.5% in the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock worth $7,948,000 after purchasing an additional 12,551 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after buying an additional 50,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Tower Semiconductor in the third quarter valued at $11,094,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Tower Semiconductor during the 3rd quarter worth $573,000. Finally, Foundry Partners LLC bought a new stake in shares of Tower Semiconductor during the 2nd quarter worth $519,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSEM shares. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday. Benchmark reiterated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Tower Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $51.33.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $48.42 on Thursday. Tower Semiconductor Ltd. has a 12 month low of $26.03 and a 12 month high of $50.25. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.37 billion, a PE ratio of 11.06 and a beta of 0.90. The business has a fifty day simple moving average of $43.38 and a 200-day simple moving average of $40.44.

Tower Semiconductor Profile

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.