Tower Semiconductor (NASDAQ:TSEM) Sets New 1-Year High – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $54.72 and last traded at $54.81, with a volume of 6786 shares changing hands. The stock had previously closed at $53.76.

Analyst Ratings Changes

Several analysts recently issued reports on TSEM shares. Susquehanna increased their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday, November 14th. Craig Hallum lifted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Trading Up 2.2 %

The firm has a market cap of $6.09 billion, a P/E ratio of 29.61 and a beta of 0.89. The stock has a 50 day simple moving average of $49.84 and a 200-day simple moving average of $44.84. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (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 company had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Tower Semiconductor’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Tower Semiconductor Ltd. will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Several large investors have recently modified their holdings of TSEM. Transcendent Capital Group LLC purchased a new position in Tower Semiconductor during the third quarter worth $27,000. USA Financial Formulas bought a new position in Tower Semiconductor during the 3rd quarter valued at about $38,000. Blue Trust Inc. raised its position in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC lifted its stake in Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares during the last quarter. Finally, Scientech Research LLC purchased a new position in shares of Tower Semiconductor during the second quarter valued at approximately $200,000. 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.