Tower Semiconductor Ltd. (TSEM) Stake Lowered by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 40.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,850 shares of the semiconductor company’s stock after selling 17,203 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Tower Semiconductor were worth $795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. purchased a new position in Tower Semiconductor during the 3rd quarter worth approximately $120,000. Dupont Capital Management Corp grew its stake 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 worth $148,000 after buying an additional 1,219 shares during the last quarter. SG Americas Securities LLC purchased a new position in Tower Semiconductor during the 3rd quarter worth approximately $207,000. Parametric Portfolio Associates LLC grew its stake in Tower Semiconductor by 9.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock worth $246,000 after buying an additional 876 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new position in Tower Semiconductor during the 2nd quarter worth approximately $279,000. Institutional investors and hedge funds own 42.33% of the company’s stock.

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) opened at $33.41 on Friday. Tower Semiconductor Ltd. has a 1 year low of $18.38 and a 1 year high of $36.69. 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 $3,160.00, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97.

A number of research firms recently issued reports on TSEM. BidaskClub downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday. Drexel Hamilton reaffirmed a “buy” rating and set a $46.00 price objective on shares of Tower Semiconductor in a research report on Wednesday, November 29th. Needham & Company LLC increased their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. Credit Suisse Group increased their price objective on Tower Semiconductor from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 15th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $39.00 price objective (up from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $43.75.

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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.

Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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