Tower Semiconductor Ltd. (NASDAQ:TSEM) Stock Has Average Price Target of $316.00 According to Brokerages

Tower Semiconductor Ltd. (NASDAQ:TSEM) has received a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $316.00.

TSEM has been the subject of several recent analyst reports. Mizuho started coverage on shares of Tower Semiconductor in a research note on Friday, September 25th. They set an “outperform” rating and a $300.00 price objective for the company. Barclays assumed coverage on Tower Semiconductor in a research note on Friday, September 18th. They issued an “overweight” rating and a $310.00 target price on the stock. UBS Group restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Weiss Ratings downgraded Tower Semiconductor from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Finally, Benchmark reaffirmed a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, August 5th.

Insider Buying and Selling

In related news, CEO Russell Ellwanger sold 104,226 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $248.34, for a total transaction of $25,883,484.84. Following the completion of the transaction, the chief executive officer owned 526,788 shares in the company, valued at $130,822,531.92. This represents a 16.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yoav Chelouche sold 232 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $215.06, for a total value of $49,893.92. Following the transaction, the director owned 33,734 shares of the company’s stock, valued at approximately $7,254,834.04. This represents a 0.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 181,767 shares of company stock worth $45,610,065. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in Tower Semiconductor by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,081,175 shares of the semiconductor company’s stock worth $189,723,000 after purchasing an additional 6,458 shares in the last quarter. E20 Capital Ltd bought a new stake in shares of Tower Semiconductor during the 1st quarter valued at about $107,708,000. Swiss National Bank boosted its stake in shares of Tower Semiconductor by 86.0% during the 1st quarter. Swiss National Bank now owns 414,850 shares of the semiconductor company’s stock valued at $70,625,000 after purchasing an additional 191,839 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Tower Semiconductor by 1,175.6% during the 1st quarter. Altshuler Shaham Ltd now owns 340,108 shares of the semiconductor company’s stock valued at $58,025,000 after purchasing an additional 313,445 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Tower Semiconductor by 9.7% during the first quarter. Renaissance Technologies LLC now owns 274,749 shares of the semiconductor company’s stock valued at $48,213,000 after buying an additional 24,200 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Stock Down 2.9%

Shares of NASDAQ TSEM opened at $187.92 on Friday. 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 has a 52 week low of $80.63 and a 52 week high of $319.94. The firm’s fifty day moving average is $213.80 and its 200 day moving average is $204.00. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 76.49 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM) last posted 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. The company had revenue of $460.08 million during the quarter, compared to analyst estimates of $454.68 million. Tower Semiconductor had a net margin of 16.94% and a return on equity of 9.83%. The firm’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. On average, equities research analysts expect that Tower Semiconductor will post 3.56 earnings per share for the current year.

About Tower Semiconductor

Tower Semiconductor Ltd. is an Israeli specialty semiconductor foundry that manufactures integrated circuits for fabless semiconductor companies, integrated device manufacturers and system companies. The company provides process technologies and production services rather than selling branded end-user electronics.

Its offerings include analog and mixed-signal technologies, radio-frequency and high-voltage circuits, power management solutions, image sensors, and specialty memory products.