Castleark Management LLC Purchases Shares of 53,240 Tower Semiconductor Ltd. $TSEM

Castleark Management LLC purchased a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 53,240 shares of the semiconductor company’s stock, valued at approximately $9,343,000.

A number of other hedge funds have also recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of Tower Semiconductor during the fourth quarter valued at about $27,000. CIBC Private Wealth Group LLC grew its stake in shares of Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC purchased a new position in Tower Semiconductor during the 3rd quarter valued at about $48,000. Kestra Advisory Services LLC purchased a new position in Tower Semiconductor during the 4th quarter valued at about $52,000. Finally, Hanson & Doremus Investment Management bought a new position in Tower Semiconductor during the 1st quarter valued at approximately $53,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TSEM shares. Benchmark reiterated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Susquehanna boosted their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Wedbush increased their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, UBS Group reaffirmed a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.75.

Tower Semiconductor Stock Performance

Shares of NASDAQ:TSEM opened at $233.37 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. Tower Semiconductor Ltd. has a 1 year low of $43.12 and a 1 year high of $319.94. The company has a market cap of $26.24 billion, a P/E ratio of 108.54 and a beta of 0.87. The stock’s fifty day moving average price is $254.80 and its 200-day moving average price is $194.49.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.