Tower Semiconductor’s (TSEM) “Buy” Rating Reaffirmed at Benchmark

Benchmark restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $60.00 target price on the semiconductor company’s stock.

A number of other analysts have also commented on the stock. Susquehanna boosted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Monday, February 3rd. Craig Hallum upped their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $45.78 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 24.75 and a beta of 0.88. The stock’s 50-day moving average is $50.74 and its 200-day moving average is $45.75. Tower Semiconductor has a one year low of $28.37 and a one year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.45 by $0.12. The firm had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. Equities analysts predict that Tower Semiconductor will post 1.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Institutional investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Tower Semiconductor by 1.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after acquiring an additional 50,000 shares during the period. Y.D. More Investments Ltd boosted its position in Tower Semiconductor by 27.5% during the fourth quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock worth $44,883,000 after purchasing an additional 187,103 shares during the period. Summit Partners Public Asset Management LLC increased its holdings in shares of Tower Semiconductor by 1,146.9% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after purchasing an additional 1,376,315 shares during the last quarter. Barclays PLC raised its position in shares of Tower Semiconductor by 4,081.2% in the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after purchasing an additional 23,385 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Tower Semiconductor in the third quarter valued at about $11,094,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

About Tower Semiconductor

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.