Tower Semiconductor Ltd. (NASDAQ:TSEM) had its price target hoisted by Drexel Hamilton from $36.00 to $38.00 in a research report released on Wednesday, MarketBeat Ratings reports. Drexel Hamilton currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts also recently weighed in on TSEM. BidaskClub downgraded shares of Tower Semiconductor from a buy rating to a hold rating in a report on Friday, July 28th. Credit Suisse Group began coverage on shares of Tower Semiconductor in a report on Tuesday, September 26th. They set an outperform rating and a $36.00 price target on the stock. Finally, ValuEngine raised shares of Tower Semiconductor from a buy rating to a strong-buy rating in a report on Friday, September 1st. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $37.00.

Tower Semiconductor (TSEM) traded up $0.27 on Wednesday, hitting $33.51. 957,000 shares of the company were exchanged, compared to its average volume of 643,397. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.63 and a current ratio of 3.44. The stock has a market capitalization of $3,289.61, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 1.14 and a beta of 0.96. Tower Semiconductor has a one year low of $15.57 and a one year high of $34.20.

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Several institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in shares of Tower Semiconductor by 9.3% during the second quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 876 shares during the last quarter. First Allied Advisory Services Inc. raised its position in shares of Tower Semiconductor by 2.1% during the second quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock valued at $1,068,000 after buying an additional 905 shares during the last quarter. Dupont Capital Management Corp raised its position in shares of Tower Semiconductor by 24.4% during the second quarter. Dupont Capital Management Corp now owns 6,219 shares of the semiconductor company’s stock valued at $148,000 after buying an additional 1,219 shares during the last quarter. Renaissance Group LLC raised its position in shares of Tower Semiconductor by 7.8% during the third quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock valued at $637,000 after buying an additional 1,506 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in shares of Tower Semiconductor by 3.3% during the second quarter. Engineers Gate Manager LP now owns 53,206 shares of the semiconductor company’s stock valued at $1,269,000 after buying an additional 1,706 shares during the last quarter. Hedge funds and other institutional investors own 45.29% of the company’s stock.

About Tower Semiconductor

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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