ARK Investment Management LLC Has $2.13 Million Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

by · The Markets Daily

ARK Investment Management LLC cut its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM – Free Report) by 17.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,351 shares of the semiconductor company’s stock after selling 8,830 shares during the quarter. ARK Investment Management LLC’s holdings in Tower Semiconductor were worth $2,130,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TSEM. Point72 Asset Management L.P. boosted its position in Tower Semiconductor by 203.8% during the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after acquiring an additional 2,083,262 shares during the last quarter. Summit Partners Public Asset Management LLC grew its stake in Tower Semiconductor by 1,146.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after purchasing an additional 1,376,315 shares during the period. Scopia Capital Management LP bought a new stake in Tower Semiconductor in the third quarter worth approximately $13,926,000. Y.D. More Investments Ltd increased its holdings in Tower Semiconductor by 27.5% in 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. Finally, Senvest Management LLC lifted its stake in Tower Semiconductor by 1.7% in the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock valued at $368,262,000 after buying an additional 138,807 shares during the period. Institutional investors own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Analysis on TSEM

Tower Semiconductor Stock Up 1.2 %

Shares of NASDAQ TSEM opened at $43.54 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The company has a 50-day moving average price of $49.77 and a 200-day moving average price of $46.29. The stock has a market capitalization of $4.83 billion, a P/E ratio of 23.41 and a beta of 0.88. Tower Semiconductor Ltd. has a 1 year low of $30.48 and a 1 year high of $55.31.

About Tower Semiconductor

(Free Report)

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.

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