Tower Semiconductor Ltd. (NASDAQ:TSEM) Receives $67.60 Average PT from Brokerages

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $67.60.

TSEM has been the subject of several research analyst reports. Barclays assumed coverage on Tower Semiconductor in a report on Thursday, September 18th. They issued an “equal weight” rating and a $74.00 price objective for the company. Wedbush set a $65.00 target price on Tower Semiconductor and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Wednesday, October 8th. Susquehanna set a $66.00 price target on shares of Tower Semiconductor and gave the stock a “positive” rating in a research report on Tuesday, August 5th. Finally, Benchmark raised their price objective on shares of Tower Semiconductor from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, September 8th.

Institutional Investors Weigh In On Tower Semiconductor

Several large investors have recently made changes to their positions in the company. King Luther Capital Management Corp raised its holdings in shares of Tower Semiconductor by 13.2% during the 3rd quarter. King Luther Capital Management Corp now owns 288,351 shares of the semiconductor company’s stock worth $20,848,000 after acquiring an additional 33,570 shares in the last quarter. GSA Capital Partners LLP bought a new position in Tower Semiconductor during the third quarter valued at $366,000. Vanguard Group Inc. grew its stake in shares of Tower Semiconductor by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,284,968 shares of the semiconductor company’s stock worth $305,630,000 after buying an additional 78,697 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Tower Semiconductor in the third quarter worth about $83,000. Finally, Andar Capital Management HK Ltd bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at approximately $3,037,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Trading Down 0.3%

NASDAQ:TSEM opened at $84.07 on Friday. The company’s 50 day moving average price is $72.48 and its 200-day moving average price is $54.10. The company has a quick ratio of 5.50, a current ratio of 6.57 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 52 week low of $28.64 and a 52 week high of $88.97. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 48.32 and a beta of 0.94.

Tower Semiconductor Company Profile

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.