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

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares gapped up prior to trading on Friday . The stock had previously closed at $211.16, but opened at $228.36. Tower Semiconductor shares last traded at $214.9810, with a volume of 245,394 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have commented on TSEM. Wedbush upped their target price 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. UBS Group reissued a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Benchmark restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Finally, Susquehanna upped their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $276.75.

Tower Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The firm has a market capitalization of $25.04 billion, a price-to-earnings ratio of 103.10 and a beta of 0.87. The stock has a 50 day moving average price of $250.47 and a two-hundred day moving average price of $196.92.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors have recently bought and sold shares of TSEM. Y.D. More Investments Ltd increased its stake in Tower Semiconductor by 4.6% during the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company’s stock worth $118,084,000 after buying an additional 44,401 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Tower Semiconductor by 0.8% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock valued at $352,589,000 after buying an additional 25,000 shares during the period. Rockingstone Advisors LLC purchased a new position in Tower Semiconductor in the 4th quarter valued at approximately $5,296,000. GF Fund Management CO. LTD. grew its stake in shares of Tower Semiconductor by 26,835.5% in the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock worth $36,214,000 after acquiring an additional 307,267 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Tower Semiconductor by 86.0% in the first quarter. Swiss National Bank now owns 414,850 shares of the semiconductor company’s stock worth $70,625,000 after acquiring an additional 191,839 shares in the last quarter. 70.51% of the stock is 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.