Tower Semiconductor (NASDAQ:TSEM) Shares Down 6.3% – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) traded down 6.3% during mid-day trading on Thursday . The stock traded as low as $114.03 and last traded at $114.4910. 430,417 shares were traded during trading, a decline of 69% from the average session volume of 1,380,811 shares. The stock had previously closed at $122.22.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSEM shares. Wedbush cut Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a report on Wednesday, December 31st. Benchmark reissued a “buy” rating and set a $150.00 target price (up previously from $120.00) on shares of Tower Semiconductor in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Barclays increased their price objective on shares of Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Finally, Susquehanna raised their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research note on Tuesday, November 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $126.75.

Tower Semiconductor Trading Up 2.3%

The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 69.78 and a beta of 0.87. The business’s 50-day moving average price is $109.74 and its 200 day moving average price is $76.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.61 and a quick ratio of 5.54.

Institutional Trading of Tower Semiconductor

Several large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC boosted its holdings in Tower Semiconductor by 254.2% in the third 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 during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Tower Semiconductor by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 226 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Tower Semiconductor during the third quarter worth approximately $48,000. Covestor Ltd bought a new stake in shares of Tower Semiconductor in the third quarter worth $52,000. Finally, Blue Trust Inc. raised its holdings in Tower Semiconductor by 14.8% in the second quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock valued at $76,000 after acquiring an additional 227 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

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.