Tower Semiconductor (NASDAQ:TSEM) Sees Strong Trading Volume

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw an uptick in trading volume on Wednesday . 251,572 shares were traded during mid-day trading, a decline of 54% from the previous session’s volume of 544,730 shares.The stock last traded at $41.50 and had previously closed at $41.75.

Analysts Set New Price Targets

A number of research firms have issued reports on TSEM. Craig Hallum raised their target price on Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Susquehanna upgraded Tower Semiconductor from a “neutral” rating to a “positive” rating and lifted their price target for the company from $36.00 to $55.00 in a research report on Friday, May 10th. StockNews.com upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of Tower Semiconductor in a research report on Friday, May 10th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $46.33.

Tower Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 5.38 and a quick ratio of 4.46. The company has a 50 day simple moving average of $38.44 and a 200-day simple moving average of $33.99. The stock has a market cap of $4.59 billion, a P/E ratio of 9.47 and a beta of 0.90.

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

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds have recently added to or reduced their stakes in TSEM. CVA Family Office LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $47,000. Quadrant Capital Group LLC lifted its stake in shares of Tower Semiconductor by 34.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 413 shares during the last quarter. Signaturefd LLC increased its holdings in Tower Semiconductor by 189.8% during the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 1,321 shares during the period. Principal Securities Inc. purchased a new position in Tower Semiconductor during the 4th quarter valued at about $71,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Tower Semiconductor during the 1st quarter worth approximately $164,000. 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.