Tower Semiconductor (NASDAQ:TSEM) Given Buy Rating at Benchmark

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research note issued on Tuesday,Benzinga reports. They currently have a $60.00 price target on the semiconductor company’s stock. Benchmark’s price objective would indicate a potential upside of 27.77% from the stock’s current price.

Several other research analysts have also recently issued reports on TSEM. Susquehanna raised their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Craig Hallum upped their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Tower Semiconductor Stock Down 3.5 %

Tower Semiconductor stock opened at $46.96 on Tuesday. Tower Semiconductor has a fifty-two week low of $28.37 and a fifty-two week high of $55.31. The company has a market cap of $5.20 billion, a PE ratio of 25.38 and a beta of 0.88. 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 business’s 50-day simple moving average is $50.76 and its two-hundred day simple moving average is $45.71.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate 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 company earned $0.47 EPS. Tower Semiconductor’s quarterly revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that Tower Semiconductor will post 1.81 EPS for the current year.

Hedge Funds Weigh In On Tower Semiconductor

A number of large investors have recently bought and sold shares of the business. Blue Trust Inc. increased its position in shares of Tower Semiconductor by 12.7% in the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 230 shares in the last quarter. Truist Financial Corp grew its stake in Tower Semiconductor by 3.8% in the 2nd quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock valued at $292,000 after acquiring an additional 273 shares during the period. Signaturefd LLC increased its holdings in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares in the last quarter. Van ECK Associates Corp raised its position in Tower Semiconductor by 1.6% during the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock worth $1,484,000 after acquiring an additional 522 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in Tower Semiconductor during the third quarter valued at $27,000. Institutional investors and hedge funds 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.