Tower Semiconductor’s (TSEM) Buy Rating Reaffirmed at Drexel Hamilton
Separately, Needham & Company LLC reissued a strong-buy rating and issued a $20.00 target price (up previously from $18.00) on shares of Tower Semiconductor in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $24.25.
Shares of Tower Semiconductor (NASDAQ:TSEM) traded down 0.086% during mid-day trading on Tuesday, reaching $17.505. 754,582 shares of the company traded hands. Tower Semiconductor has a 52-week low of $10.36 and a 52-week high of $17.76. The company’s 50 day moving average is $15.78 and its 200 day moving average is $14.07.
Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Tuesday, November 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The firm earned $326.20 million during the quarter. Tower Semiconductor had a return on equity of 43.67% and a net margin of 12.95%. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities analysts predict that Tower Semiconductor will post $1.54 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. LPL Financial LLC bought a new stake in Tower Semiconductor during the third quarter worth approximately $1,296,000. Credit Suisse AG raised its stake in Tower Semiconductor by 77.3% in the third quarter. Credit Suisse AG now owns 138,184 shares of the company’s stock worth $2,098,000 after buying an additional 60,266 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Tower Semiconductor during the third quarter valued at $2,491,000. UBS Group AG increased its position in Tower Semiconductor by 13.0% in the third quarter. UBS Group AG now owns 337,801 shares of the company’s stock valued at $5,128,000 after buying an additional 38,770 shares during the period. Finally, HBK Investments L P increased its position in Tower Semiconductor by 106.4% in the third quarter. HBK Investments L P now owns 73,900 shares of the company’s stock valued at $1,122,000 after buying an additional 38,101 shares during the period. 41.88% of the stock is currently owned by institutional investors and hedge funds.
Tower Semiconductor Company Profile
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. It manufactures semiconductors for its customers primarily based on third-party designs.
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