Tower Semiconductor (NASDAQ:TSEM) Shares Gap Up – What’s Next?

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) gapped up before the market opened on Monday . The stock had previously closed at $124.71, but opened at $133.66. Tower Semiconductor shares last traded at $136.54, with a volume of 882,997 shares.

Analyst Upgrades and Downgrades

TSEM has been the subject of several recent research reports. Benchmark upped their price target on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Wedbush upped their target price on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Barclays raised their target price on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Finally, Susquehanna reiterated a “positive” rating and set a $180.00 price target on shares of Tower Semiconductor in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $156.75.

Tower Semiconductor Trading Up 12.1%

The company has a 50 day moving average of $127.35 and a 200 day moving average of $102.64. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. The firm has a market cap of $15.73 billion, a price-to-earnings ratio of 72.29 and a beta of 0.91.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. The firm had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 earnings per share. As a group, research analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current year.

Institutional Investors Weigh In On Tower Semiconductor

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Tower Semiconductor by 3,222.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock valued at $549,779,000 after purchasing an additional 4,541,235 shares during the last quarter. Capital International Investors bought a new stake in Tower Semiconductor during the fourth quarter worth about $222,530,000. Goldman Sachs Group Inc. grew its stake in Tower Semiconductor by 214.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after buying an additional 1,505,421 shares during the last quarter. Turiya Advisors Asia Ltd acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $172,848,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Tower Semiconductor by 293.8% during the fourth quarter. Janus Henderson Group PLC now owns 1,074,717 shares of the semiconductor company’s stock worth $126,193,000 after buying an additional 801,820 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

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.