King Luther Capital Management Corp Acquires 8,111 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

King Luther Capital Management Corp grew its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,218 shares of the semiconductor company’s stock after buying an additional 8,111 shares during the period. King Luther Capital Management Corp owned 0.21% of Tower Semiconductor worth $12,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tower Semiconductor by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,593 shares of the semiconductor company’s stock valued at $1,421,000 after acquiring an additional 1,306 shares in the last quarter. Essex Investment Management Co. LLC grew its position in shares of Tower Semiconductor by 2.1% during the fourth quarter. Essex Investment Management Co. LLC now owns 183,392 shares of the semiconductor company’s stock valued at $9,447,000 after purchasing an additional 3,813 shares in the last quarter. Amundi increased its holdings in shares of Tower Semiconductor by 86.3% in the fourth quarter. Amundi now owns 11,575 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 5,361 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of Tower Semiconductor in the fourth quarter worth about $323,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth about $1,347,000. Institutional investors own 70.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $36.85 on Wednesday. The firm has a market capitalization of $4.08 billion, a PE ratio of 19.81 and a beta of 0.87. The stock’s fifty day moving average is $47.67 and its 200 day moving average is $46.33. Tower Semiconductor Ltd. has a fifty-two week low of $30.48 and a fifty-two week high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18.

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.