Tower Semiconductor (NASDAQ:TSEM) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a buy rating to a strong-buy rating in a report issued on Thursday.

A number of other equities analysts have also recently issued reports on TSEM. Susquehanna upgraded shares of Tower Semiconductor from a neutral rating to a positive rating and upped their price target for the stock from $36.00 to $55.00 in a research note on Friday, May 10th. Craig Hallum upped their target price on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a buy rating in a research note on Friday, May 10th. Finally, Benchmark reissued a buy rating and set a $40.00 price target on shares of Tower Semiconductor in a research report on Friday, May 10th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $46.33.

Tower Semiconductor Price Performance

Shares of TSEM opened at $41.72 on Thursday. Tower Semiconductor has a one year low of $21.43 and a one year high of $42.10. The company has a 50-day simple moving average of $38.14 and a two-hundred day simple moving average of $33.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 5.38.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.32 by $0.08. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. The business had revenue of $327.24 million for the quarter, compared to analyst estimates of $325.00 million. Research analysts anticipate that Tower Semiconductor will post 1.67 earnings per share for the current fiscal year.

Institutional Trading of Tower Semiconductor

Institutional investors have recently made changes to their positions in the stock. Graham Capital Management L.P. boosted its holdings in Tower Semiconductor by 487.1% in the third quarter. Graham Capital Management L.P. now owns 39,550 shares of the semiconductor company’s stock worth $971,000 after purchasing an additional 32,813 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Tower Semiconductor by 5,887.4% in the third quarter. Wellington Management Group LLP now owns 499,405 shares of the semiconductor company’s stock worth $12,265,000 after acquiring an additional 491,064 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Tower Semiconductor in the third quarter worth $4,158,000. Vanguard Group Inc. increased its position in Tower Semiconductor by 2.1% during the third quarter. Vanguard Group Inc. now owns 3,669,868 shares of the semiconductor company’s stock valued at $90,132,000 after acquiring an additional 74,264 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in Tower Semiconductor in the fourth quarter valued at about $47,000. 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.