Tower Semiconductor (NASDAQ:TSEM) Reaches New 12-Month High – Still a Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $153.41 and last traded at $153.6780, with a volume of 2099133 shares. The stock had previously closed at $141.96.

Analysts Set New Price Targets

A number of research analysts have issued reports on TSEM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Benchmark upped their target price on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Wedbush boosted their price objective on shares of Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Susquehanna restated a “positive” rating and set a $180.00 target price on shares of Tower Semiconductor in a research report on Thursday, February 12th. Finally, Barclays increased their target price on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Tower Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $156.75.

Tower Semiconductor Trading Up 9.7%

The business has a 50 day simple moving average of $128.44 and a two-hundred day simple moving average of $104.01. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. The company has a market cap of $17.50 billion, a PE ratio of 80.87 and a beta of 0.91.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The business had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Tower Semiconductor in the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC lifted its position in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Tower Semiconductor during the 4th quarter worth $52,000. Westside Investment Management Inc. grew its holdings in shares of Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 226 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 403 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.

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.