Invesco Ltd. Purchases 1,260,683 Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM)

Invesco Ltd. increased its position in Tower Semiconductor Ltd. (NASDAQ:TSEM) by 251.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,761,235 shares of the semiconductor company’s stock after purchasing an additional 1,260,683 shares during the period. Invesco Ltd.’s holdings in Tower Semiconductor were worth $90,721,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in shares of Tower Semiconductor in the third quarter worth $1,979,000. Barclays PLC raised its position in Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock worth $1,060,000 after buying an additional 23,385 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tower Semiconductor by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company’s stock valued at $4,154,000 after acquiring an additional 823 shares during the period. Tidal Investments LLC boosted its holdings in shares of Tower Semiconductor by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 71,678 shares of the semiconductor company’s stock valued at $3,172,000 after acquiring an additional 3,168 shares during the last quarter. Finally, Oliver Luxxe Assets LLC boosted its holdings in shares of Tower Semiconductor by 5.5% during the 4th quarter. Oliver Luxxe Assets LLC now owns 44,378 shares of the semiconductor company’s stock valued at $2,292,000 after acquiring an additional 2,322 shares during the last quarter. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $33.92 on Monday. Tower Semiconductor Ltd. has a 12-month low of $28.64 and a 12-month high of $55.31. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 18.24 and a beta of 0.84. 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 firm has a 50 day moving average of $40.13 and a 200 day moving average of $45.21.

Analyst Ratings Changes

TSEM has been the topic of several research reports. Benchmark restated a “buy” rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Monday, April 7th. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.