Tower Semiconductor (NASDAQ:TSEM) Trading Up 8.2% – Still a Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price shot up 8.2% during mid-day trading on Thursday . The stock traded as high as $233.94 and last traded at $234.4580. Approximately 931,566 shares changed hands during trading, a decline of 61% from the average session volume of 2,418,531 shares. The stock had previously closed at $216.70.

Wall Street Analyst Weigh In

A number of research firms have commented on TSEM. Susquehanna boosted their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Benchmark lifted their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Wedbush upped their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Stock Performance

The firm has a market cap of $25.05 billion, a PE ratio of 103.60 and a beta of 0.87. The company has a 50 day simple moving average of $253.40 and a 200-day simple moving average of $185.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Institutional Investors Weigh In On Tower Semiconductor

A number of institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its position in Tower Semiconductor by 10.8% in the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 77 shares during the period. Silverleafe Capital Partners LLC grew its stake in shares of Tower Semiconductor by 3.0% during the second quarter. Silverleafe Capital Partners LLC now owns 2,860 shares of the semiconductor company’s stock valued at $745,000 after buying an additional 84 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Tower Semiconductor by 2.6% during the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after buying an additional 127 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Tower Semiconductor by 2.6% in the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock worth $601,000 after buying an additional 131 shares during the period. Finally, Mariner LLC increased its holdings in shares of Tower Semiconductor by 2.4% in the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock worth $637,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.