Sei Investments Co. Has $16.07 Million Holdings in Tower Semiconductor Ltd. $TSEM

Sei Investments Co. decreased its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 39.3% in the 1st quarter, HoldingsChannel reports. The firm owned 91,554 shares of the semiconductor company’s stock after selling 59,175 shares during the quarter. Sei Investments Co.’s holdings in Tower Semiconductor were worth $16,066,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Covestor Ltd increased its holdings in Tower Semiconductor by 10.8% in the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after buying an additional 77 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Tower Semiconductor by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after acquiring an additional 127 shares during the period. Evergreen Capital Management LLC boosted its position in shares of Tower Semiconductor by 2.6% during the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 131 shares in the last quarter. Mariner LLC boosted its position in shares of Tower Semiconductor by 2.4% during the 3rd quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock worth $637,000 after acquiring an additional 207 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Tower Semiconductor by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company’s stock valued at $922,000 after acquiring an additional 218 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on TSEM. UBS Group restated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Wedbush raised their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Susquehanna lifted their price target on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Finally, Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $276.75.

Tower Semiconductor Trading Up 12.4%

Shares of Tower Semiconductor stock opened at $211.16 on Friday. The firm’s 50 day moving average is $250.47 and its 200 day moving average is $196.92. The firm has a market capitalization of $23.74 billion, a PE ratio of 98.21 and a beta of 0.87. Tower Semiconductor Ltd. has a 1 year low of $43.12 and a 1 year high of $319.94. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04.

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.