Tower Semiconductor (TSEM) – Research Analysts’ Recent Ratings Updates

Tower Semiconductor (NASDAQ: TSEM) has recently received a number of price target changes and ratings updates:

• 11/14/2024 – Tower Semiconductor had its price target raised by analysts at Susquehanna from $55.00 to $60.00. They now have a “positive” rating on the stock.
• 11/14/2024 – Tower Semiconductor had its price target raised by analysts at Craig Hallum from $54.00 to $60.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Tower Semiconductor had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $55.00 price target on the stock.
• 11/12/2024 – Tower Semiconductor was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $47.13 on Monday. Tower Semiconductor Ltd. has a 52-week low of $27.11 and a 52-week high of $50.25. The stock’s 50-day simple moving average is $44.83 and its 200 day simple moving average is $41.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 25.48 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. Research analysts forecast that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSEM. Essex Investment Management Co. LLC boosted its position in shares of Tower Semiconductor by 7.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock valued at $7,948,000 after acquiring an additional 12,551 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Tower Semiconductor during the third quarter valued at approximately $11,094,000. Wealth Enhancement Advisory Services LLC purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $573,000. Finally, Summit Partners Public Asset Management LLC increased its holdings in shares of Tower Semiconductor by 1,146.9% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after buying an additional 1,376,315 shares during the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

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.