Woodline Partners LP bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Rating) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 427,640 shares of the semiconductor company's stock, valued at approximately $20,698,000. Woodline Partners LP owned approximately 0.40% of Tower Semiconductor at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Alpine Associates Management Inc. bought a new stake in Tower Semiconductor in the first quarter valued at $81,307,000. Versor Investments LP bought a new stake in Tower Semiconductor in the first quarter valued at $81,114,000. JPMorgan Chase & Co. grew its position in Tower Semiconductor by 389.8% in the first quarter. JPMorgan Chase & Co. now owns 2,017,039 shares of the semiconductor company's stock valued at $97,625,000 after acquiring an additional 1,605,268 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its position in Tower Semiconductor by 82.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,182,393 shares of the semiconductor company's stock valued at $105,628,000 after acquiring an additional 983,880 shares during the period. Finally, PSquared Asset Management AG bought a new stake in shares of Tower Semiconductor during the first quarter worth $33,880,000.
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Tower Semiconductor Price Performance
Tower Semiconductor stock opened at $45.90 on Monday. The business's 50-day simple moving average is $46.50 and its 200 day simple moving average is $47.23. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 24.81 and a beta of 1.04. Tower Semiconductor Ltd. has a 12-month low of $28.42 and a 12-month high of $49.13. The company has a quick ratio of 3.09, a current ratio of 3.81 and a debt-to-equity ratio of 0.12.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Tower Semiconductor from a "hold" rating to a "buy" rating in a report on Friday, May 27th.
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.
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