Meitav Investment House Ltd. Grows Holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Meitav Investment House Ltd. grew its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 5.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,555,530 shares of the semiconductor company’s stock after buying an additional 123,713 shares during the quarter. Tower Semiconductor makes up approximately 1.9% of Meitav Investment House Ltd.’s portfolio, making the stock its 15th biggest position. Meitav Investment House Ltd.’s holdings in Tower Semiconductor were worth $113,220,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TSEM. USA Financial Formulas bought a new stake in Tower Semiconductor in the third quarter valued at approximately $38,000. Blue Trust Inc. raised its holdings in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares in the last quarter. Signaturefd LLC grew its stake in shares of Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Tower Semiconductor in the first quarter worth $164,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Tower Semiconductor in the second quarter worth $177,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TSEM shares. StockNews.com cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 19th. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Monday, September 9th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, Tower Semiconductor presently has an average rating of “Buy” and a consensus price target of $51.33.

Tower Semiconductor Trading Down 1.7 %

Shares of NASDAQ:TSEM opened at $42.58 on Thursday. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 9.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. The stock’s 50-day simple moving average is $43.25 and its two-hundred day simple moving average is $39.65. Tower Semiconductor Ltd. has a 52-week low of $22.30 and a 52-week high of $46.53.

Tower Semiconductor Profile

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.