Pier Capital LLC trimmed its stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 218,882 shares of the semiconductor company’s stock after selling 20,067 shares during the period. Tower Semiconductor accounts for 1.2% of Pier Capital LLC’s portfolio, making the stock its 18th largest position. Pier Capital LLC owned 0.22% of Tower Semiconductor worth $6,731,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. bought a new position in shares of Tower Semiconductor in the 3rd quarter worth $120,000. Dupont Capital Management Corp increased its position in Tower Semiconductor by 24.4% during the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after buying an additional 1,219 shares in the last quarter. SG Americas Securities LLC acquired a new position in Tower Semiconductor during the 3rd quarter valued at about $207,000. Parametric Portfolio Associates LLC acquired a new position in Tower Semiconductor during the 1st quarter valued at about $217,000. Finally, Spectrum Asset Management Inc. NB CA acquired a new position in Tower Semiconductor during the 3rd quarter valued at about $290,000. 42.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) opened at $34.91 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.85 and a current ratio of 3.44. The firm has a market capitalization of $3,427.04, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. Tower Semiconductor Ltd. has a one year low of $17.51 and a one year high of $36.69.
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About Tower Semiconductor
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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