Tower Semiconductor Ltd. (NASDAQ:TSEM) Given Consensus Rating of “Moderate Buy” by Brokerages

Tower Semiconductor Ltd. (NASDAQ:TSEM) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $290.6667.

A number of brokerages have recently issued reports on TSEM. National Bank Financial upgraded shares of Tower Semiconductor to a “buy” rating in a research report on Friday, August 7th. Benchmark reaffirmed a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, August 5th. Barclays upgraded Tower Semiconductor from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Stifel Nicolaus initiated coverage on Tower Semiconductor in a research report on Tuesday. They set a “buy” rating and a $270.00 target price for the company. Finally, UBS Group reaffirmed a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th.

Insiders Place Their Bets

In other Tower Semiconductor news, CEO Russell Craig Ellwanger sold 104,226 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $248.34, for a total transaction of $25,883,484.84. Following the transaction, the chief executive officer directly owned 526,788 shares in the company, valued at approximately $130,822,531.92. This represents a 16.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Tower Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of TSEM. Amundi boosted its stake in Tower Semiconductor by 86.8% in the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after acquiring an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Tower Semiconductor by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after acquiring an additional 3,954 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tower Semiconductor by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after purchasing an additional 662 shares during the period. Hsbc Holdings PLC bought a new position in shares of Tower Semiconductor in the 2nd quarter worth $438,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Tower Semiconductor in the 2nd quarter worth $5,809,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Price Performance

Shares of TSEM stock opened at $206.81 on Thursday. The stock’s fifty day moving average is $231.92 and its 200-day moving average is $213.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.31 and a current ratio of 4.91. The stock has a market capitalization of $23.26 billion, a PE ratio of 81.74 and a beta of 0.88. Tower Semiconductor has a 52 week low of $61.27 and a 52 week high of $319.94.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.12. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.The business had revenue of $460.08 million during the quarter, compared to analysts’ expectations of $454.68 million. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities research analysts expect that Tower Semiconductor will post 3.57 EPS for the current fiscal year.

Tower Semiconductor Company Profile

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.