Tower Semiconductor Ltd. (NASDAQ:TSEM) has been assigned an average rating of “Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $43.75.
Several analysts recently weighed in on TSEM shares. Drexel Hamilton boosted their price objective 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. BidaskClub cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Credit Suisse Group started coverage on shares of Tower Semiconductor in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. 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 research note on Wednesday, November 8th. Finally, Needham & Company LLC boosted their price objective on shares of Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 30th.
Tower Semiconductor (NASDAQ:TSEM) traded down $0.23 during midday trading on Friday, hitting $33.15. 384,500 shares of the company’s stock were exchanged, compared to its average volume of 691,978. 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 12-month low of $18.74 and a 12-month high of $36.69. The company has a market capitalization of $3,276.83, a PE ratio of 15.60, a PEG ratio of 1.10 and a beta of 0.97.
Institutional investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd acquired a new position in Tower Semiconductor in the third quarter valued at $18,035,000. Monarch Partners Asset Management LLC acquired a new position in Tower Semiconductor in the third quarter valued at $15,362,000. Bank of Nova Scotia acquired a new position in Tower Semiconductor in the second quarter valued at $9,068,000. Vanguard Group Inc. lifted its holdings in Tower Semiconductor by 22.0% in the second quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock valued at $43,902,000 after buying an additional 331,647 shares during the period. Finally, Ion Asset Management Ltd. lifted its holdings in Tower Semiconductor by 60.8% in the second quarter. Ion Asset Management Ltd. now owns 833,530 shares of the semiconductor company’s stock valued at $19,880,000 after buying an additional 315,247 shares during the period. 42.33% of the stock is currently 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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