LPL Financial LLC Reduces Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

LPL Financial LLC cut its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 12.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 30,819 shares of the semiconductor company’s stock after selling 4,187 shares during the quarter. LPL Financial LLC’s holdings in Tower Semiconductor were worth $1,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Y.D. More Investments Ltd increased its position in shares of Tower Semiconductor by 27.5% during the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after purchasing an additional 187,103 shares in the last quarter. Barclays PLC increased its position in Tower Semiconductor by 4,081.2% during the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after buying an additional 23,385 shares during the period. Geode Capital Management LLC lifted its stake in Tower Semiconductor by 0.9% in the third quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company’s stock valued at $4,154,000 after buying an additional 823 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Tower Semiconductor by 292.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company’s stock valued at $1,506,000 after buying an additional 21,773 shares during the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $920,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $35.47 on Friday. The stock has a market capitalization of $3.93 billion, a P/E ratio of 19.07 and a beta of 0.84. Tower Semiconductor Ltd. has a 1 year low of $28.64 and a 1 year high of $55.31. The company’s fifty day moving average is $39.00 and its two-hundred day moving average is $44.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18.

Wall Street Analyst Weigh In

TSEM has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. Benchmark restated a “buy” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Tower Semiconductor has an average 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.