Tanaka Capital Management Inc. Sells 15,987 Shares of Tower Semiconductor Ltd. (TSEM)

Tanaka Capital Management Inc. reduced its position in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 9.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 162,199 shares of the semiconductor company’s stock after selling 15,987 shares during the quarter. Tower Semiconductor accounts for approximately 11.1% of Tanaka Capital Management Inc.’s holdings, making the stock its biggest position. Tanaka Capital Management Inc. owned about 0.17% of Tower Semiconductor worth $4,988,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC grew its stake in shares of Tower Semiconductor by 9.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after purchasing an additional 876 shares during the period. First Allied Advisory Services Inc. grew its stake in shares of Tower Semiconductor by 2.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock valued at $1,068,000 after acquiring an additional 905 shares during the period. Dupont Capital Management Corp grew its stake in shares of Tower Semiconductor by 24.4% during the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after acquiring an additional 1,219 shares during the period. Renaissance Group LLC grew its stake in shares of Tower Semiconductor by 7.8% during the 3rd quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 1,506 shares during the period. Finally, Engineers Gate Manager LP grew its stake in shares of Tower Semiconductor by 3.3% during the 2nd quarter. Engineers Gate Manager LP now owns 53,206 shares of the semiconductor company’s stock valued at $1,269,000 after acquiring an additional 1,706 shares during the period. Institutional investors and hedge funds own 42.33% of the company’s stock.

TSEM has been the subject of a number of recent research reports. BidaskClub upgraded Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Credit Suisse Group initiated coverage on Tower Semiconductor in a research note on Tuesday, September 26th. They set an “outperform” rating and a $36.00 price objective for the company. Drexel Hamilton boosted their price objective on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, Craig Hallum reiterated a “buy” rating and set a $39.00 price objective (up from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $43.75.

Tower Semiconductor Ltd. (TSEM) opened at $33.15 on Wednesday. The stock has a market capitalization of $3,264.07, a P/E ratio of 15.54, a P/E/G ratio of 1.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.85 and a current ratio of 3.44. Tower Semiconductor Ltd. has a 52 week low of $18.74 and a 52 week high of $36.69.

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Tower Semiconductor Profile

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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Institutional Ownership by Quarter for Tower Semiconductor (NASDAQ:TSEM)

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