Tower Semiconductor’s (TSEM) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a $55.00 price objective on the semiconductor company’s stock.

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

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $44.55 on Thursday. The company has a 50-day simple moving average of $43.70 and a two-hundred day simple moving average of $40.67. 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 has a 12-month low of $26.62 and a 12-month high of $50.25. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 24.08 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that Tower Semiconductor will post 1.82 EPS for the current year.

Hedge Funds Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the business. Transcendent Capital Group LLC bought a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $38,000. Blue Trust Inc. increased 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 valued at $80,000 after acquiring an additional 1,376 shares in the last quarter. Signaturefd LLC increased its position in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 431 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Tower Semiconductor during the second quarter valued at approximately $177,000. Institutional investors own 70.51% of the company’s stock.

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.