Tower Semiconductor (NASDAQ:TSEM) Reaches New 52-Week High – Here’s Why

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $135.84 and last traded at $133.4660, with a volume of 618463 shares changing hands. The stock had previously closed at $129.00.

Analyst Ratings Changes

TSEM has been the subject of several recent analyst reports. Benchmark restated a “buy” rating and set a $150.00 target price (up previously from $120.00) on shares of Tower Semiconductor in a research report on Friday, January 9th. Wedbush cut Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price objective for the company. in a report on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Susquehanna boosted their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research note on Tuesday, November 11th. Finally, Barclays raised their price target on shares of Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Tower Semiconductor has an average rating of “Hold” and a consensus target price of $126.75.

Tower Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 6.61 and a quick ratio of 5.54. The company has a market cap of $14.92 billion, a PE ratio of 78.17 and a beta of 0.87. The business has a fifty day simple moving average of $114.98 and a two-hundred day simple moving average of $81.22.

Institutional Trading of Tower Semiconductor

A number of institutional investors have recently modified their holdings of TSEM. Senvest Management LLC grew its stake in Tower Semiconductor by 0.9% during the 2nd quarter. Senvest Management LLC now owns 8,128,614 shares of the semiconductor company’s stock valued at $352,375,000 after purchasing an additional 69,207 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Tower Semiconductor by 1.9% during the third quarter. Vanguard Group Inc. now owns 4,284,968 shares of the semiconductor company’s stock worth $305,630,000 after purchasing an additional 78,697 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Tower Semiconductor by 7.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,977,806 shares of the semiconductor company’s stock valued at $215,295,000 after buying an additional 200,000 shares during the last quarter. Jennison Associates LLC boosted its position in Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock valued at $168,591,000 after buying an additional 369,600 shares during the last quarter. Finally, Meitav Investment House Ltd. increased its holdings in Tower Semiconductor by 1.2% in the 3rd quarter. Meitav Investment House Ltd. now owns 2,268,503 shares of the semiconductor company’s stock worth $162,870,000 after buying an additional 25,989 shares during the period. 70.51% of the stock is currently 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.