Tower Semiconductor (NASDAQ:TSEM) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report report published on Tuesday morning,RTT News reports. They currently have a $60.00 price objective on the semiconductor company’s stock.

Several other analysts also recently commented on TSEM. Craig Hallum increased their target price on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna lifted their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Tower Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Performance

Shares of TSEM stock opened at $45.78 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 24.75 and a beta of 0.88. Tower Semiconductor has a one year low of $28.37 and a one year high of $55.31. The company’s 50-day moving average is $50.74 and its 200 day moving average is $45.75.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The firm had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts expect that Tower Semiconductor will post 1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in TSEM. Vanguard Group Inc. boosted its holdings in shares of Tower Semiconductor by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company’s stock worth $205,954,000 after buying an additional 42,969 shares during the last quarter. Fox Run Management L.L.C. boosted its stake in shares of Tower Semiconductor by 50.3% during the 4th quarter. Fox Run Management L.L.C. now owns 15,448 shares of the semiconductor company’s stock worth $796,000 after acquiring an additional 5,167 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at $20,015,000. Harvest Fund Management Co. Ltd increased its stake in shares of Tower Semiconductor by 2,421.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,303 shares of the semiconductor company’s stock worth $479,000 after purchasing an additional 8,934 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Tower Semiconductor by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company’s stock worth $53,456,000 after purchasing an additional 25,247 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.