Tower Semiconductor Ltd. (TSEM) Upgraded to “Buy” by BidaskClub
Tower Semiconductor Ltd. (NASDAQ:TSEM) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
Several other research analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Tower Semiconductor in a research note on Friday, June 9th. TheStreet raised shares of Tower Semiconductor from a “c” rating to a “b-” rating in a research report on Monday, May 8th. Finally, ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.50.
Shares of Tower Semiconductor (NASDAQ:TSEM) opened at 28.07 on Thursday. The company has a market cap of $2.75 billion, a P/E ratio of 14.37 and a beta of 1.00. Tower Semiconductor has a 52-week low of $14.83 and a 52-week high of $28.30. The stock has a 50 day moving average of $25.81 and a 200 day moving average of $23.94.
Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.03. Tower Semiconductor had a net margin of 14.53% and a return on equity of 28.28%. The business had revenue of $345.10 million during the quarter, compared to analysts’ expectations of $344.98 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. Tower Semiconductor’s revenue was up 13.1% compared to the same quarter last year. On average, equities analysts anticipate that Tower Semiconductor will post $2.05 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the stock. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Tower Semiconductor during the first quarter valued at $115,000. Dupont Capital Management Corp raised its position in Tower Semiconductor by 24.4% in the second quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock worth $148,000 after buying an additional 1,219 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in Tower Semiconductor during the first quarter worth $217,000. First Dallas Securities Inc. bought a new position in Tower Semiconductor during the first quarter worth $225,000. Finally, JPMorgan Chase & Co. raised its position in Tower Semiconductor by 319.3% in the first quarter. JPMorgan Chase & Co. now owns 10,194 shares of the semiconductor company’s stock worth $235,000 after buying an additional 7,763 shares during the last quarter. 49.00% of the stock is owned by hedge funds and other institutional investors.
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. The Company manufactures semiconductors for its customers primarily based on third-party designs.
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