Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have been assigned an average rating of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $24.33.

TSEM has been the subject of a number of research analyst reports. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Craig Hallum reduced their price objective on Tower Semiconductor from $26.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday. Needham & Company LLC restated a “buy” rating and set a $27.00 price objective on shares of Tower Semiconductor in a research report on Wednesday. Finally, Credit Suisse Group boosted their price objective on Tower Semiconductor from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSEM. Norges Bank bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $31,708,000. Jennison Associates LLC grew its position in shares of Tower Semiconductor by 246.9% in the 4th quarter. Jennison Associates LLC now owns 1,362,918 shares of the semiconductor company’s stock valued at $32,792,000 after buying an additional 970,075 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $21,027,000. Ion Asset Management Ltd. grew its position in shares of Tower Semiconductor by 48.5% in the 4th quarter. Ion Asset Management Ltd. now owns 2,312,961 shares of the semiconductor company’s stock valued at $55,650,000 after buying an additional 755,579 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC bought a new stake in shares of Tower Semiconductor in the 4th quarter valued at about $14,726,000. Hedge funds and other institutional investors own 55.42% of the company’s stock.

Tower Semiconductor stock opened at $18.99 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.54 and a current ratio of 4.30. Tower Semiconductor has a 52 week low of $12.13 and a 52 week high of $25.80. The stock has a market capitalization of $2.25 billion, a P/E ratio of 22.34 and a beta of 1.42. The stock has a fifty day moving average of $17.79 and a 200-day moving average of $21.09.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Tower Semiconductor had a return on equity of 7.71% and a net margin of 7.30%. The company had revenue of $300.17 million during the quarter, compared to analysts’ expectations of $299.00 million. On average, research analysts forecast that Tower Semiconductor will post 0.95 earnings per share for the current year.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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