Tower Semiconductor Ltd. (NASDAQ:TSEM) shares gapped down before the market opened on Friday . The stock had previously closed at $29.12, but opened at $30.16. Tower Semiconductor shares last traded at $30.16, with a volume of 3412000 shares traded.
Several brokerages have recently issued reports on TSEM. Drexel Hamilton reiterated a “buy” rating and issued a $46.00 price objective on shares of Tower Semiconductor in a research note on Thursday. Craig Hallum reiterated a “buy” rating and issued a $39.00 price objective (up from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. BidaskClub cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Credit Suisse Group increased their price objective on Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 15th. Finally, ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Tower Semiconductor presently has an average rating of “Buy” and an average price target of $43.75.
The firm has a market cap of $2,920.00, a P/E ratio of 12.48, a PEG ratio of 0.82 and a beta of 0.92. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.34.
Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $358.10 million. Tower Semiconductor had a return on equity of 27.94% and a net margin of 21.48%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.52 earnings per share. equities research analysts forecast that Tower Semiconductor Ltd. will post 2.46 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in TSEM. Meitav Dash Investments Ltd. acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at $24,173,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Tower Semiconductor in the fourth quarter valued at $22,891,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Tower Semiconductor in the third quarter valued at $18,035,000. Monarch Partners Asset Management LLC purchased a new position in Tower Semiconductor in the third quarter valued at $15,362,000. Finally, Vanguard Group Inc. increased its holdings in Tower Semiconductor by 22.0% in the second quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock valued at $43,902,000 after buying an additional 331,647 shares during the last quarter. Institutional investors and hedge funds own 43.63% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This story was first reported by Transcript Daily and is the property of of Transcript Daily. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://transcriptdaily.com/2018/02/25/tower-semiconductor-tsem-shares-gap-down-to-30-16.html.
About Tower Semiconductor
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.
Receive News & Ratings for Tower Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.