Tower Semiconductor (NASDAQ:TSEM) Sees Unusually-High Trading Volume – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares saw an uptick in trading volume on Thursday . 2,206,360 shares were traded during mid-day trading, an increase of 29% from the previous session’s volume of 1,704,018 shares.The stock last traded at $124.4960 and had previously closed at $121.28.

Analyst Upgrades and Downgrades

Several analysts have commented on TSEM shares. Wedbush downgraded shares of 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. Susquehanna raised their price objective on shares of Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a report on Tuesday, November 11th. Barclays boosted their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Finally, Benchmark restated a “buy” rating and issued a $150.00 price target (up from $120.00) on shares of Tower Semiconductor in a report on Friday, January 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.75.

Tower Semiconductor Stock Up 6.4%

The firm’s 50-day simple moving average is $122.51 and its 200 day simple moving average is $87.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61. The stock has a market capitalization of $14.31 billion, a P/E ratio of 75.02 and a beta of 0.89.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas bought a new stake in Tower Semiconductor during the fourth quarter worth $27,000. CIBC Private Wealth Group LLC raised its holdings in shares of 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 during the period. Westside Investment Management Inc. lifted its stake in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 226 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Tower Semiconductor in the 3rd quarter valued at about $48,000. Finally, Covestor Ltd acquired a new stake in shares of Tower Semiconductor in the third quarter valued at approximately $52,000. 70.51% of the stock is 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.