Tower Semiconductor Ltd. (TSEM) Price Target Increased to $40.00 by Analysts at Credit Suisse Group

Tower Semiconductor Ltd. (NASDAQ:TSEM) had its price objective upped by Credit Suisse Group from $36.00 to $40.00 in a research note issued to investors on Wednesday morning. The firm currently has an outperform rating on the semiconductor company’s stock.

TSEM has been the topic of several other reports. BidaskClub upgraded shares of Tower Semiconductor from a hold rating to a buy rating in a research note on Thursday, August 24th. ValuEngine upgraded shares of Tower Semiconductor from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Craig Hallum reiterated a buy rating and issued a $39.00 target price (up from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. Finally, Drexel Hamilton increased their target price on shares of Tower Semiconductor from $36.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, November 8th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Tower Semiconductor currently has an average rating of Buy and an average price target of $38.00.

Tower Semiconductor (TSEM) traded up $0.76 during midday trading on Wednesday, reaching $34.80. 609,920 shares of the company’s stock traded hands, compared to its average volume of 700,803. Tower Semiconductor has a fifty-two week low of $17.35 and a fifty-two week high of $34.96. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.34. The stock has a market cap of $3,240.00, a PE ratio of 15.85, a PEG ratio of 1.13 and a beta of 0.96.

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Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its position in shares of Tower Semiconductor by 9.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 876 shares in the last quarter. First Allied Advisory Services Inc. raised its position in shares of Tower Semiconductor by 2.1% during the 2nd quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock valued at $1,068,000 after buying an additional 905 shares in the last quarter. Dupont Capital Management Corp raised its position in shares of Tower Semiconductor by 24.4% during the 2nd quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after buying an additional 1,219 shares in the last quarter. Renaissance Group LLC raised its position in shares of Tower Semiconductor by 7.8% during the 3rd quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock valued at $637,000 after buying an additional 1,506 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in shares of Tower Semiconductor by 3.3% during the 2nd quarter. Engineers Gate Manager LP now owns 53,206 shares of the semiconductor company’s stock valued at $1,269,000 after buying an additional 1,706 shares in the last quarter. Hedge funds and other institutional investors own 45.32% of the company’s stock.

About Tower Semiconductor

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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