Jennison Associates LLC lowered its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Rating) by 7.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,634,631 shares of the semiconductor company's stock after selling 130,462 shares during the period. Jennison Associates LLC owned about 1.53% of Tower Semiconductor worth $79,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ion Asset Management Ltd. increased its stake in shares of Tower Semiconductor by 280.4% in the fourth quarter. Ion Asset Management Ltd. now owns 1,899,669 shares of the semiconductor company's stock valued at $75,379,000 after buying an additional 1,400,326 shares during the period. Alpine Associates Management Inc. acquired a new position in Tower Semiconductor during the 1st quarter worth about $81,307,000. Versor Investments LP bought a new stake in shares of Tower Semiconductor in the 1st quarter valued at about $81,114,000. Meitav Dash Investments Ltd. increased its stake in shares of Tower Semiconductor by 29.8% in the fourth quarter. Meitav Dash Investments Ltd. now owns 1,658,217 shares of the semiconductor company's stock valued at $65,833,000 after buying an additional 380,339 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Tower Semiconductor by 174.2% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,198,513 shares of the semiconductor company's stock worth $47,557,000 after acquiring an additional 761,415 shares during the period.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Tower Semiconductor from a "hold" rating to a "buy" rating in a report on Friday, May 27th.

Tower Semiconductor Price Performance

Tower Semiconductor Company Profile

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Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, other Asia countries, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

Further Reading

• Get a free copy of the StockNews.com research report on Tower Semiconductor (TSEM)
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