ARK Investment Management Reduces Stake in Tower Semiconductor

ARK Investment Management LLC has recently announced a reduction in its holdings of Tower Semiconductor Ltd. (NASDAQ:TSEM) by 17.6% during the fourth quarter. This change was detailed in a Form 13F filing submitted to the Securities and Exchange Commission. Following the transaction, ARK now owns 41,351 shares of the semiconductor company, which reflect a value of approximately $2.13 million at the conclusion of the reporting period.

Recent Hedge Fund Movements

Other hedge funds have also been active in the market regarding Tower Semiconductor shares. Notably, Point72 Asset Management L.P. significantly increased its stake by 203.8% in the third quarter, now holding 3,105,383 shares valued at around $137.44 million after buying 2,083,262 additional shares. Similarly, Summit Partners Public Asset Management LLC expanded its holdings by an impressive 1,146.9% during the same period, acquiring 1,496,315 shares worth approximately $66.23 million after an additional purchase of 1,376,315 shares. Scopia Capital Management LP initiated a new position in Tower Semiconductor in the third quarter, valued around $13.93 million. Moreover, Y.D. More Investments Ltd. raised its investments by 27.5% during the fourth quarter, now owning 866,539 shares valued at $44.88 million after purchasing an additional 187,103 shares. In the third quarter, Senvest Management LLC also boosted its stake by 1.7%, holding 8,320,433 shares worth about $368.26 million following a purchase of 138,807 shares. Institutional investors now account for 70.51% of the company's overall stock ownership.

Analyst Ratings and Growth Projections

Multiple analysts have provided insights on Tower Semiconductor's stock. Susquehanna recently raised its price target from $55.00 to $60.00 and assigned a "positive" rating. Craig Hallum also increased its target to $60.00 while recommending a buy rating. However, StockNews.com downgraded the stock from a "buy" to a "hold" rating. Conversely, Wedbush upheld an "outperform" rating with a target price of $60.00, and Benchmark reiterated a buy rating with the same target. Currently, the stock has a consensus rating of "Moderate Buy" with an average target price of $60.00.

Tower Semiconductor Stock Performance

Tower Semiconductor's shares rose by 1.2% recently, opening at $43.54. The company maintains a low debt-to-equity ratio of 0.05, with robust liquidity ratios of 6.18 (current) and 5.23 (quick). The stock has a market capitalization of $4.83 billion, a P/E ratio of 23.41, and a beta of 0.88. The 52-week range for the stock has been between $30.48 and $55.31.

Company Overview

Tower Semiconductor Ltd. operates as an independent semiconductor foundry, specializing in manufacturing analog-intensive mixed-signal devices using various advanced process technologies. These technologies include SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensors, integrated power management, and MEMS, catering to clients in regions including Israel, the U.S., Japan, and Europe.

investment, semiconductor, fund