Tower Semiconductor’s (TSEM) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report sent to investors on Wednesday morning, AnalystRatings.com reports. The firm currently has a $25.00 target price on the semiconductor company’s stock.

A number of other research analysts have also recently commented on TSEM. Credit Suisse Group increased their price target on Tower Semiconductor from $19.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, May 14th. BidaskClub upgraded Tower Semiconductor from a hold rating to a buy rating in a report on Tuesday, July 28th. Finally, Craig Hallum decreased their price objective on Tower Semiconductor from $26.00 to $25.00 and set a buy rating for the company in a report on Thursday, May 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Tower Semiconductor has a consensus rating of Buy and a consensus target price of $23.67.

Shares of TSEM opened at $21.50 on Wednesday. Tower Semiconductor has a 52 week low of $12.13 and a 52 week high of $25.80. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 29.05 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.11 and a current ratio of 3.51. The stock has a fifty day moving average of $20.50 and a 200-day moving average of $20.02.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Tower Semiconductor had a return on equity of 5.95% and a net margin of 6.43%. The company had revenue of $310.09 million during the quarter, compared to analysts’ expectations of $310.00 million. As a group, equities analysts forecast that Tower Semiconductor will post 0.85 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp grew its holdings in Tower Semiconductor by 4.2% during the 2nd quarter. M&T Bank Corp now owns 23,755 shares of the semiconductor company’s stock worth $453,000 after acquiring an additional 965 shares during the period. Commonwealth Equity Services LLC grew its holdings in Tower Semiconductor by 12.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 11,818 shares of the semiconductor company’s stock worth $188,000 after acquiring an additional 1,263 shares during the period. Geode Capital Management LLC grew its holdings in Tower Semiconductor by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 79,666 shares of the semiconductor company’s stock worth $1,916,000 after acquiring an additional 1,627 shares during the period. Tower Research Capital LLC TRC grew its holdings in Tower Semiconductor by 77.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,826 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 1,673 shares during the period. Finally, Aperio Group LLC grew its holdings in Tower Semiconductor by 10.7% during the 1st quarter. Aperio Group LLC now owns 19,417 shares of the semiconductor company’s stock worth $309,000 after acquiring an additional 1,875 shares during the period. Institutional investors and hedge funds own 53.65% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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