Tower Semiconductor (NASDAQ:TSEM) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a buy rating in a research report report published on Monday morning.

A number of other research analysts have also recently commented on TSEM. TheStreet raised Tower Semiconductor from a c+ rating to a b- rating in a research report on Friday, March 8th. Susquehanna initiated coverage on shares of Tower Semiconductor in a report on Thursday, February 29th. They set a neutral rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $36.33.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $32.99 on Monday. The company has a market capitalization of $3.61 billion, a PE ratio of 7.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.15 and a current ratio of 6.17. Tower Semiconductor has a 52-week low of $21.43 and a 52-week high of $45.87. The company has a 50-day simple moving average of $31.46 and a 200 day simple moving average of $28.33.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. The company had revenue of $351.71 million during the quarter, compared to analyst estimates of $350.00 million. On average, research analysts predict that Tower Semiconductor will post 1.52 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Tower Semiconductor by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 3,726,278 shares of the semiconductor company’s stock worth $113,726,000 after buying an additional 56,410 shares in the last quarter. Sphera Funds Management LTD. increased its stake in Tower Semiconductor by 12.5% in the fourth quarter. Sphera Funds Management LTD. now owns 528,300 shares of the semiconductor company’s stock valued at $16,124,000 after acquiring an additional 58,726 shares during the last quarter. Voya Investment Management LLC raised its position in Tower Semiconductor by 46.0% during the fourth quarter. Voya Investment Management LLC now owns 460,921 shares of the semiconductor company’s stock valued at $14,067,000 after purchasing an additional 145,190 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Tower Semiconductor during the fourth quarter worth about $2,721,000. Finally, Royal Bank of Canada boosted its holdings in shares of Tower Semiconductor by 31.0% in the 4th quarter. Royal Bank of Canada now owns 80,043 shares of the semiconductor company’s stock worth $2,443,000 after purchasing an additional 18,934 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.

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.