ARK Investment Management LLC Lowers Position in Tower Semiconductor Ltd. (NASDAQ:TSEM)

ARK Investment Management LLC cut its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,351 shares of the semiconductor company’s stock after selling 8,830 shares during the period. ARK Investment Management LLC’s holdings in Tower Semiconductor were worth $2,130,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares during the last quarter. Y.D. More Investments Ltd grew its position in Tower Semiconductor by 27.5% in the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after purchasing an additional 187,103 shares in the last quarter. Summit Partners Public Asset Management LLC increased its stake in Tower Semiconductor by 1,146.9% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after buying an additional 1,376,315 shares during the last quarter. Barclays PLC lifted its position in shares of Tower Semiconductor by 4,081.2% during the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after buying an additional 23,385 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Tower Semiconductor in the 3rd quarter worth approximately $573,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Susquehanna increased their price target on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Craig Hallum increased their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $43.54 on Thursday. Tower Semiconductor Ltd. has a 1 year low of $30.48 and a 1 year high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The stock’s fifty day moving average price is $49.77 and its two-hundred day moving average price is $46.29. The firm has a market cap of $4.83 billion, a PE ratio of 23.41 and a beta of 0.88.

Tower Semiconductor Company 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.