Tower Semiconductor Ltd. (NASDAQ:TSEM) Stock Has Consensus Price Target of $316.00

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $316.00.

A number of research analysts have issued reports on the company. Barclays began coverage on Tower Semiconductor in a research report on Friday, September 18th. They issued an “overweight” rating and a $310.00 target price on the stock. Benchmark restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, August 5th. National Bank Financial raised Tower Semiconductor to a “buy” rating in a research note on Friday, August 7th. Bank of America began coverage on shares of Tower Semiconductor in a report on Friday, August 7th. They issued a “buy” rating and a $367.00 price objective for the company. Finally, UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th.

Tower Semiconductor Price Performance

Shares of TSEM stock opened at $240.86 on Monday. Tower Semiconductor has a 12-month low of $70.90 and a 12-month high of $319.94. The firm has a fifty day moving average of $224.13 and a 200-day moving average of $228.44. The firm has a market capitalization of $27.08 billion, a price-to-earnings ratio of 95.20 and a beta of 0.89. The company has a quick ratio of 4.31, a current ratio of 4.91 and a debt-to-equity ratio of 0.04.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.12. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.The company had revenue of $460.08 million for the quarter, compared to analyst estimates of $454.68 million. During the same period in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, equities research analysts forecast that Tower Semiconductor will post 3.56 earnings per share for the current year.

Insider Buying and Selling at Tower Semiconductor

In other news, CEO Russell Ellwanger sold 104,226 shares of Tower Semiconductor stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $248.34, for a total transaction of $25,883,484.84. Following the transaction, the chief executive officer owned 526,788 shares in the company, valued at approximately $130,822,531.92. The trade was a 16.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yoav Chelouche sold 232 shares of Tower Semiconductor stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $215.06, for a total transaction of $49,893.92. Following the transaction, the director owned 33,734 shares in the company, valued at approximately $7,254,834.04. This trade represents a 0.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 181,767 shares of company stock valued at $45,610,065 in the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its holdings in Tower Semiconductor by 20.8% during the 3rd quarter. Versant Capital Management Inc now owns 319 shares of the semiconductor company’s stock worth $73,000 after buying an additional 55 shares during the period. QRG Capital Management Inc. grew its position in shares of Tower Semiconductor by 4.1% in the 2nd quarter. QRG Capital Management Inc. now owns 1,295 shares of the semiconductor company’s stock valued at $338,000 after buying an additional 51 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Tower Semiconductor in the second quarter valued at about $9,592,000. Engineers Gate Manager LP increased its stake in shares of Tower Semiconductor by 1,039.1% in the second quarter. Engineers Gate Manager LP now owns 23,921 shares of the semiconductor company’s stock valued at $6,235,000 after buying an additional 21,821 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in shares of Tower Semiconductor by 8.1% during the second quarter. Integrated Wealth Concepts LLC now owns 1,428 shares of the semiconductor company’s stock worth $372,000 after acquiring an additional 107 shares during the last quarter. 70.51% of the stock is owned by institutional investors.

About Tower Semiconductor

Tower Semiconductor Ltd. is an Israel-based specialty semiconductor foundry that manufactures integrated circuits for fabless semiconductor companies, integrated device manufacturers and other technology companies. Rather than selling products under a broad consumer brand, Tower provides wafer fabrication, process technology and manufacturing services tailored to customers’ chip designs.

The company specializes in analog and mixed-signal semiconductors, radio-frequency components, power-management devices, CMOS image sensors and other specialty technologies.