Tower Semiconductor (NASDAQ:TSEM) Shares Gap Up – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM) gapped up prior to trading on Monday . The stock had previously closed at $29.65, but opened at $30.63. Tower Semiconductor shares last traded at $30.52, with a volume of 232,749 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a report on Monday. Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Trading Up 7.4 %

The stock has a market capitalization of $3.53 billion, a P/E ratio of 17.12 and a beta of 0.84. The company has a current ratio of 6.18, a quick ratio of 5.23 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $42.20 and a two-hundred day moving average price of $45.70.

Institutional Investors Weigh In On Tower Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of TSEM. R Squared Ltd acquired a new position in shares of Tower Semiconductor in the 4th quarter valued at approximately $61,000. Blue Trust Inc. increased its stake in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after purchasing an additional 230 shares during the last quarter. Crews Bank & Trust acquired a new position in shares of Tower Semiconductor during the 4th quarter worth $134,000. Caption Management LLC bought a new stake in shares of Tower Semiconductor during the 4th quarter worth $155,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in Tower Semiconductor in the fourth quarter valued at about $203,000. 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.