Tower Semiconductor (NASDAQ:TSEM) Shares Gap Down – Should You Sell?

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) gapped down prior to trading on Tuesday . The stock had previously closed at $218.95, but opened at $201.50. Tower Semiconductor shares last traded at $207.6730, with a volume of 293,585 shares changing hands.

Wall Street Analysts Forecast Growth

TSEM has been the topic of a number of recent analyst reports. Susquehanna raised their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Wedbush upped their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Benchmark increased their price objective 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. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Trading Down 4.9%

The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $251.76 and a 200 day moving average of $182.98. The firm has a market cap of $23.42 billion, a PE ratio of 96.84 and a beta of 0.87.

Institutional Investors Weigh In On Tower Semiconductor

Several institutional investors have recently added to or reduced their stakes in TSEM. Y.D. More Investments Ltd boosted its holdings in Tower Semiconductor by 4.6% in the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock valued at $118,084,000 after purchasing an additional 44,401 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after purchasing an additional 25,000 shares during the period. Granahan Investment Management LLC increased its holdings in shares of Tower Semiconductor by 42.6% in the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company’s stock worth $12,883,000 after purchasing an additional 53,208 shares during the period. Rockingstone Advisors LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth $5,296,000. Finally, GF Fund Management CO. LTD. grew its position in Tower Semiconductor by 26,835.5% during the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock worth $36,214,000 after buying an additional 307,267 shares in the last quarter. 70.51% of the stock is 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.