Benchmark Reaffirms “Buy” Rating for Tower Semiconductor (NASDAQ:TSEM)

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating reaffirmed by Benchmark in a note issued to investors on Friday,Benzinga reports. They currently have a $150.00 price objective on the semiconductor company’s stock, up from their prior price objective of $120.00. Benchmark’s price target would indicate a potential upside of 27.84% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price target on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Susquehanna boosted their target price on Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a research report on Tuesday, November 11th. Wedbush cut shares of Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor presently has an average rating of “Hold” and a consensus target price of $126.75.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $117.33 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61. Tower Semiconductor has a fifty-two week low of $28.64 and a fifty-two week high of $129.58. The stock has a market cap of $13.55 billion, a PE ratio of 68.22 and a beta of 0.87. The stock has a fifty day moving average of $109.05 and a 200-day moving average of $76.17.

Institutional Investors Weigh In On Tower Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AdviceOne Advisory Services LLC purchased a new stake in Tower Semiconductor during the 4th quarter valued at $235,000. FNY Investment Advisers LLC boosted its holdings in shares of Tower Semiconductor by 1,174.0% during the third quarter. FNY Investment Advisers LLC now owns 1,274 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 1,174 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC purchased a new position in Tower Semiconductor during the 3rd quarter valued at about $48,000. Finally, Sender Co & Partners Inc. bought a new position in Tower Semiconductor during the 3rd quarter valued at approximately $577,000. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.