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

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $218.95, but opened at $201.50. Tower Semiconductor shares last traded at $207.6730, with a volume of 293,585 shares changing hands.

Analyst Ratings Changes

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

Tower Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The company has a 50 day simple moving average of $251.76 and a 200-day simple moving average of $182.98. The stock has a market cap of $23.42 billion, a P/E ratio of 96.84 and a beta of 0.87.

Hedge Funds Weigh In On Tower Semiconductor

Large investors have recently modified their holdings of the company. USA Financial Formulas bought a new stake in Tower Semiconductor in the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC grew its position in Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Tower Semiconductor during the third quarter worth approximately $48,000. Kestra Advisory Services LLC purchased a new position in shares of Tower Semiconductor during the fourth quarter worth approximately $52,000. Finally, Hanson & Doremus Investment Management bought a new stake in shares of Tower Semiconductor in the 1st quarter worth approximately $53,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

About Tower Semiconductor

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.