Arrowstreet Capital Limited Partnership Has $12.44 Million Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 72.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 241,039 shares of the semiconductor company’s stock after selling 639,811 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Tower Semiconductor were worth $12,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Tower Semiconductor in the 4th quarter worth $61,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 12.7% in the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 230 shares during the period. Crews Bank & Trust bought a new position in Tower Semiconductor during the fourth quarter worth about $134,000. Cornerstone Investment Partners LLC acquired a new position in shares of Tower Semiconductor during the 4th quarter worth about $203,000. Finally, Callan Family Office LLC acquired a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $323,000. Institutional investors own 70.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TSEM shares. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $29.65 on Friday. The firm has a market cap of $3.29 billion, a P/E ratio of 15.94 and a beta of 0.87. Tower Semiconductor Ltd. has a twelve month low of $28.64 and a twelve month high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The firm’s 50 day moving average price is $42.20 and its two-hundred day moving average price is $45.67.

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.