Tower Semiconductor (NASDAQ:TSEM) Shares Gap Up – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $233.54, but opened at $249.96. Tower Semiconductor shares last traded at $255.2460, with a volume of 428,162 shares.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wedbush increased their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Barclays increased their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Benchmark increased their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Susquehanna increased their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Tower Semiconductor currently has a consensus rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.92 and a current ratio of 5.63. The stock’s fifty day moving average is $230.74 and its two-hundred day moving average is $163.93. The firm has a market cap of $27.70 billion, a price-to-earnings ratio of 115.01 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 EPS. On average, analysts expect that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the stock. USA Financial Formulas bought a new position in Tower Semiconductor in the 4th quarter valued at about $27,000. Hanson & Doremus Investment Management bought a new position in Tower Semiconductor in the 1st quarter valued at about $53,000. CIBC Private Wealth Group LLC grew its position in Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 300 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Tower Semiconductor in the 4th quarter valued at about $52,000. Finally, SBI Securities Co. Ltd. grew its position in Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 403 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

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.