Harvest Fund Management Co. Ltd Purchases 8,934 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Harvest Fund Management Co. Ltd raised its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 2,421.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,303 shares of the semiconductor company’s stock after acquiring an additional 8,934 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Tower Semiconductor were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Senvest Management LLC boosted its holdings in shares of Tower Semiconductor by 1.7% during the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock worth $368,262,000 after acquiring an additional 138,807 shares during the period. Point72 Asset Management L.P. raised its position in shares of Tower Semiconductor by 203.8% in the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after buying an additional 2,083,262 shares in the last quarter. Summit Partners Public Asset Management LLC raised its position in shares of Tower Semiconductor by 1,146.9% in the third 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 in the last quarter. William Blair Investment Management LLC raised its position in shares of Tower Semiconductor by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company’s stock valued at $53,456,000 after buying an additional 25,247 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its position in shares of Tower Semiconductor by 27.5% in the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after buying an additional 187,103 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $38.25 on Friday. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $4.24 billion, a P/E ratio of 20.56 and a beta of 0.87. The firm’s fifty day simple moving average is $45.56 and its two-hundred day simple moving average is $46.02. Tower Semiconductor Ltd. has a 12 month low of $30.74 and a 12 month high of $55.31.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSEM. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.00.

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.