Essex Investment Management Co. LLC Has $9.45 Million 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 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 183,392 shares of the semiconductor company’s stock after acquiring an additional 3,813 shares during the period. Tower Semiconductor makes up 1.7% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 6th largest position. Essex Investment Management Co. LLC owned about 0.17% of Tower Semiconductor worth $9,447,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Blue Trust Inc. raised its holdings in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 230 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Tower Semiconductor by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock valued at $1,484,000 after acquiring an additional 522 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at about $27,000. King Luther Capital Management Corp raised its holdings in shares of Tower Semiconductor by 0.3% in the 3rd quarter. King Luther Capital Management Corp now owns 225,107 shares of the semiconductor company’s stock valued at $9,963,000 after acquiring an additional 695 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC raised its holdings in shares of Tower Semiconductor by 3.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 21,655 shares of the semiconductor company’s stock valued at $1,115,000 after acquiring an additional 820 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

TSEM opened at $39.30 on Friday. The stock’s 50 day simple moving average is $48.28 and its 200 day simple moving average is $46.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. Tower Semiconductor Ltd. has a 1 year low of $30.48 and a 1 year high of $55.31. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 21.13 and a beta of 0.87.

Wall Street Analysts Forecast Growth

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