Tower Semiconductor (NASDAQ:TSEM) Sets New 52-Week Low at $37.60

Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Rating)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $37.60 and last traded at $37.78, with a volume of 690580 shares. The stock had previously closed at $40.04.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 19th.

Tower Semiconductor Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.19 and a quick ratio of 3.18. The business’s 50 day moving average price is $42.46 and its 200-day moving average price is $42.63. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 14.96 and a beta of 0.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TSEM. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Tower Semiconductor by 230.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,027,252 shares of the semiconductor company’s stock worth $255,356,000 after acquiring an additional 4,204,362 shares during the period. Balyasny Asset Management L.P. purchased a new position in Tower Semiconductor in the first quarter valued at about $46,105,000. Franklin Resources Inc. increased its holdings in Tower Semiconductor by 36.3% in the fourth quarter. Franklin Resources Inc. now owns 3,822,943 shares of the semiconductor company’s stock valued at $165,152,000 after buying an additional 1,017,887 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Tower Semiconductor by 105.3% in the first quarter. Renaissance Technologies LLC now owns 1,354,146 shares of the semiconductor company’s stock valued at $57,511,000 after buying an additional 694,500 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Tower Semiconductor by 156.5% in the second quarter. Legal & General Group Plc now owns 1,107,573 shares of the semiconductor company’s stock valued at $51,453,000 after buying an additional 675,803 shares in the last quarter. 53.83% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Company Profile

(Get Rating)

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.