Wellington Management Group LLP Cuts Stake in Tower Semiconductor Ltd. (NASDAQ:TSEM)

Wellington Management Group LLP lessened its stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 21.0% in the 4th quarter, Holdings Channel reports. The firm owned 1,996,962 shares of the semiconductor company’s stock after selling 531,339 shares during the period. Wellington Management Group LLP’s holdings in Tower Semiconductor were worth $102,864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Tower Semiconductor during the fourth quarter valued at approximately $61,000. Blue Trust Inc. raised its stake in Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 230 shares during the last quarter. Crews Bank & Trust purchased a new position in Tower Semiconductor in the 4th quarter valued at $134,000. Cornerstone Investment Partners LLC acquired a new stake in Tower Semiconductor during the 4th quarter worth $203,000. Finally, Callan Family Office LLC purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth $323,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Trading Down 15.4 %

Shares of TSEM stock opened at $31.60 on Friday. The stock has a market capitalization of $3.50 billion, a P/E ratio of 16.99 and a beta of 0.87. Tower Semiconductor Ltd. has a fifty-two week low of $30.74 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. The company has a 50 day moving average price of $42.70 and a 200 day moving average price of $45.72.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TSEM shares. Benchmark restated a “buy” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Tower Semiconductor Company Profile

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.