King Luther Capital Management Corp Raises Stock Position in Tower Semiconductor Ltd. $TSEM

King Luther Capital Management Corp grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,781 shares of the semiconductor company’s stock after acquiring an additional 12,217 shares during the period. King Luther Capital Management Corp owned about 0.23% of Tower Semiconductor worth $11,045,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TSEM. CSM Advisors LLC purchased a new position in Tower Semiconductor in the 2nd quarter valued at approximately $544,000. Penserra Capital Management LLC boosted its position in Tower Semiconductor by 40.6% during the second quarter. Penserra Capital Management LLC now owns 468,481 shares of the semiconductor company’s stock worth $20,308,000 after purchasing an additional 135,250 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Tower Semiconductor by 53.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 44,737 shares of the semiconductor company’s stock valued at $1,939,000 after purchasing an additional 15,507 shares during the last quarter. ARK Investment Management LLC grew its holdings in Tower Semiconductor by 24.7% in the second quarter. ARK Investment Management LLC now owns 46,339 shares of the semiconductor company’s stock valued at $2,009,000 after purchasing an additional 9,180 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Tower Semiconductor by 18.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,442 shares of the semiconductor company’s stock valued at $1,016,000 after buying an additional 3,704 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wedbush set a $65.00 price objective on shares of Tower Semiconductor and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a report on Wednesday, October 8th. Susquehanna set a $66.00 price target on shares of Tower Semiconductor and gave the company a “positive” rating in a research report on Tuesday, August 5th. Benchmark raised their price objective on shares of Tower Semiconductor from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Finally, Barclays assumed coverage on Tower Semiconductor in a research note on Thursday, September 18th. They issued an “equal weight” rating and a $74.00 target price on the stock. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.60.

Tower Semiconductor Price Performance

NASDAQ:TSEM opened at $84.07 on Monday. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $88.97. The firm has a market cap of $9.32 billion, a price-to-earnings ratio of 48.32 and a beta of 0.94. The company’s 50-day moving average is $72.48 and its two-hundred day moving average is $54.10. The company has a current ratio of 6.57, a quick ratio of 5.50 and a debt-to-equity ratio of 0.05.

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.