Tower Semiconductor (NASDAQ:TSEM) Shares Down 12% – Should You Sell?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price traded down 12% during trading on Tuesday . The stock traded as low as $210.60 and last traded at $212.9440. 1,304,117 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 2,519,340 shares. The stock had previously closed at $242.04.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TSEM shares. Barclays lifted their price target on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Wedbush raised their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Susquehanna boosted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research note on Thursday, May 14th. Finally, Benchmark raised their price target on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Trading Down 7.0%

The firm has a market capitalization of $25.31 billion, a price-to-earnings ratio of 104.81 and a beta of 0.87. The business’s fifty day moving average is $228.12 and its 200 day moving average is $162.02. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $413.63 million during the quarter, compared to analyst estimates of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. Equities analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Hedge Funds Weigh In On Tower Semiconductor

Large investors have recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its holdings in shares of Tower Semiconductor by 4.6% during the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock worth $118,084,000 after buying an additional 44,401 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Tower Semiconductor by 0.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after acquiring an additional 25,000 shares during the period. Argent Trust Co acquired a new stake in Tower Semiconductor during the third quarter worth approximately $287,000. Granahan Investment Management LLC boosted its holdings in shares of Tower Semiconductor by 42.6% during the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company’s stock worth $12,883,000 after acquiring an additional 53,208 shares during the period. Finally, Rockingstone Advisors LLC acquired a new position in shares of Tower Semiconductor in the fourth quarter valued at approximately $5,296,000. Institutional investors and hedge funds 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.