Tower Semiconductor (NASDAQ:TSEM) Stock Price Expected to Rise, Craig Hallum Analyst Says

Tower Semiconductor (NASDAQ:TSEM) had its target price upped by Craig Hallum from $54.00 to $60.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other analysts have also recently issued research reports about the company. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday. Susquehanna increased their price target on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday. Finally, StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Price Performance

Shares of TSEM stock opened at $44.55 on Thursday. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 24.08 and a beta of 0.90. The business’s fifty day moving average is $43.70 and its 200 day moving average is $40.67. Tower Semiconductor has a twelve month low of $26.62 and a twelve month high of $50.25. The company has a quick ratio of 4.94, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.45 by $0.12. The business had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. Research analysts expect that Tower Semiconductor will post 1.82 EPS for the current fiscal year.

Institutional Trading of Tower Semiconductor

A number of hedge funds and other institutional investors have recently bought and sold shares of TSEM. Transcendent Capital Group LLC acquired a new stake in Tower Semiconductor in the third quarter valued at $27,000. USA Financial Formulas purchased a new stake in Tower Semiconductor in the third quarter valued at approximately $38,000. Blue Trust Inc. grew its position in shares of Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares during the last quarter. Signaturefd LLC raised its position in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Tower Semiconductor during the 1st quarter worth $164,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

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.