Tower Semiconductor (NASDAQ:TSEM) Hits New 52-Week High – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) reached a new 52-week high during trading on Monday . The stock traded as high as $119.92 and last traded at $118.5510, with a volume of 727248 shares. The stock had previously closed at $114.01.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Benchmark boosted their price target on shares of Tower Semiconductor from $73.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 1st. Susquehanna boosted their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Wedbush increased their price target on shares of Tower Semiconductor from $85.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, November 11th. Finally, Barclays lifted their price target on shares of Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.25.

Tower Semiconductor Price Performance

The company has a quick ratio of 5.54, a current ratio of 6.61 and a debt-to-equity ratio of 0.05. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 68.64 and a beta of 0.88. The company’s 50-day moving average price is $87.40 and its 200-day moving average price is $63.20.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Monday, November 10th. The semiconductor company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The company had revenue of $395.67 million for the quarter, compared to analyst estimates of $394.98 million. Tower Semiconductor had a net margin of 12.92% and a return on equity of 7.16%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. On average, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Institutional Investors Weigh In On Tower Semiconductor

Several large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC raised its position in Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after buying an additional 226 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Tower Semiconductor in the first quarter valued at approximately $39,000. Advisory Services Network LLC purchased a new position in Tower Semiconductor in the third quarter worth approximately $48,000. Finally, Covestor Ltd purchased a new position in Tower Semiconductor in the third quarter worth approximately $52,000. Hedge funds and other institutional investors 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.