Tower Semiconductor (NASDAQ:TSEM) Reaches New 52-Week High – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $140.63 and last traded at $139.54, with a volume of 10899 shares trading hands. The stock had previously closed at $136.89.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSEM. Benchmark reissued a “buy” rating and issued a $150.00 price objective (up from $120.00) on shares of Tower Semiconductor in a research note on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Wedbush downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Wednesday, December 31st. Barclays raised their price objective on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Finally, Susquehanna boosted their target price on Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Tower Semiconductor presently has an average rating of “Hold” and a consensus price target of $126.75.

Tower Semiconductor Trading Up 0.6%

The company has a quick ratio of 5.54, a current ratio of 6.61 and a debt-to-equity ratio of 0.05. The firm has a market cap of $14.93 billion, a P/E ratio of 79.34 and a beta of 0.89. The company’s 50 day simple moving average is $121.38 and its 200-day simple moving average is $86.77.

Institutional Trading of Tower Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in the business. Senvest Management LLC lifted its holdings in Tower Semiconductor by 0.9% during the 2nd quarter. Senvest Management LLC now owns 8,128,614 shares of the semiconductor company’s stock valued at $352,375,000 after buying an additional 69,207 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tower Semiconductor by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock valued at $507,317,000 after acquiring an additional 53,112 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after purchasing an additional 25,000 shares in the last quarter. Jennison Associates LLC grew its stake in Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock worth $168,591,000 after purchasing an additional 369,600 shares in the last quarter. Finally, Meitav Investment House Ltd. increased its holdings in Tower Semiconductor by 1.2% during the 3rd quarter. Meitav Investment House Ltd. now owns 2,268,503 shares of the semiconductor company’s stock worth $162,870,000 after purchasing an additional 25,989 shares during the period. 70.51% of the stock is currently owned by institutional investors.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.