Tower Semiconductor (NASDAQ:TSEM) Reaches New 1-Year High – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) reached a new 52-week high during trading on Monday . The company traded as high as $308.79 and last traded at $308.0470, with a volume of 1221917 shares trading hands. The stock had previously closed at $286.74.

Analyst Ratings Changes

TSEM has been the topic of a number of recent analyst reports. Wedbush boosted their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Benchmark raised their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Finally, Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Price Performance

The business has a fifty day simple moving average of $242.23 and a 200 day simple moving average of $172.40. The stock has a market capitalization of $35.64 billion, a P/E ratio of 147.61 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The firm had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, analysts expect that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Hedge Funds Weigh In On Tower Semiconductor

Several large investors have recently made changes to their positions in the business. USA Financial Formulas bought a new stake in Tower Semiconductor in the 4th quarter worth approximately $27,000. Hanson & Doremus Investment Management purchased a new stake in shares of Tower Semiconductor during the 1st quarter valued at about $53,000. CIBC Private Wealth Group LLC grew its holdings in Tower Semiconductor by 254.2% during 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 last quarter. Kestra Advisory Services LLC bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $52,000. Finally, SBI Securities Co. Ltd. increased its holdings in Tower Semiconductor by 344.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 403 shares during the period. 70.51% of the stock is currently owned by hedge funds and other 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.