Tower Semiconductor (NASDAQ:TSEM) Earns Buy Rating from Benchmark

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a report issued on Monday,Benzinga reports. They presently have a $60.00 price target on the semiconductor company’s stock. Benchmark’s price objective would indicate a potential upside of 94.17% from the stock’s current price.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $30.90 on Monday. The stock has a market cap of $3.42 billion, a P/E ratio of 16.61 and a beta of 0.84. The firm’s 50-day simple moving average is $41.30 and its 200 day simple moving average is $45.45. Tower Semiconductor has a fifty-two week low of $28.64 and a fifty-two week high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Tower Semiconductor during the fourth quarter worth approximately $61,000. Blue Trust Inc. boosted its stake in shares of Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after acquiring an additional 230 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of Tower Semiconductor during the 4th quarter worth $134,000. Caption Management LLC acquired a new position in shares of Tower Semiconductor in the 4th quarter worth $155,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth $203,000. Institutional investors and hedge funds 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.