BidaskClub lowered shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a sell rating in a report released on Friday morning.
TSEM has been the subject of several other research reports. Credit Suisse Group boosted their price objective on Tower Semiconductor from $36.00 to $40.00 and gave the company an outperform rating in a report on Wednesday, November 15th. Needham & Company LLC boosted their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the company a strong-buy rating in a report on Thursday, November 30th. Craig Hallum reissued a buy rating and issued a $39.00 price objective (up previously from $32.00) on shares of Tower Semiconductor in a report on Wednesday, November 8th. ValuEngine raised Tower Semiconductor from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Finally, Drexel Hamilton reissued a buy rating and issued a $46.00 price objective on shares of Tower Semiconductor in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $43.75.
Shares of Tower Semiconductor (NASDAQ:TSEM) traded down $0.19 during mid-day trading on Friday, hitting $33.78. The stock had a trading volume of 313,378 shares, compared to its average volume of 389,159. The firm has a market cap of $3,160.00, a PE ratio of 18.56, a PEG ratio of 0.92 and a beta of 0.96. The company has a current ratio of 3.44, a quick ratio of 2.85 and a debt-to-equity ratio of 0.34. Tower Semiconductor has a fifty-two week low of $19.97 and a fifty-two week high of $36.69.
Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.07. Tower Semiconductor had a return on equity of 27.82% and a net margin of 14.53%. research analysts expect that Tower Semiconductor will post 2.02 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Tower Semiconductor by 22.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock worth $43,902,000 after purchasing an additional 331,647 shares during the period. Macquarie Group Ltd. raised its holdings in Tower Semiconductor by 7.5% in the 3rd quarter. Macquarie Group Ltd. now owns 1,770,009 shares of the semiconductor company’s stock worth $54,427,000 after purchasing an additional 123,841 shares during the period. Renaissance Technologies LLC raised its holdings in Tower Semiconductor by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,238,386 shares of the semiconductor company’s stock worth $29,536,000 after purchasing an additional 93,200 shares during the period. Menora Mivtachim Holdings LTD. raised its holdings in Tower Semiconductor by 15.5% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,008,313 shares of the semiconductor company’s stock worth $31,006,000 after purchasing an additional 135,681 shares during the period. Finally, Bank Hapoalim BM raised its holdings in Tower Semiconductor by 0.4% in the 3rd quarter. Bank Hapoalim BM now owns 975,117 shares of the semiconductor company’s stock worth $29,985,000 after purchasing an additional 3,910 shares during the period. 43.84% of the stock is owned by institutional investors.
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Tower Semiconductor Company Profile
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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