Florida-based Hood River Capital Management initiated a new stake in Tower Semiconductor, purchasing 1.51 million shares valued at $109.22 million in the third quarter. This new position places Tower Semiconductor outside the fund’s top five holdings. As of September 30, Tower Semiconductor’s shares were priced at $118.08, showing a 127% increase over the past year. The company offers analog-intensive mixed-signal semiconductor devices and operates as an independent foundry, serving various sectors globally. Tower Semiconductor reported strong revenue and net income in the third quarter, with plans to expand capacity for future growth.

Read more at Nasdaq: Tower Semiconductor Draws New $109 Million Institutional Stake Amid a 127% Stock Run