Tower Semiconductor (NASDAQ:TSEM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a buy rating in a report published on Monday.

Other research analysts have also issued research reports about the company. TheStreet upgraded Tower Semiconductor from a c+ rating to a b- rating in a research report on Friday, March 8th. Susquehanna initiated coverage on Tower Semiconductor in a report on Thursday, February 29th. They set a neutral rating and a $36.00 target price for the company. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Tower Semiconductor has an average rating of Moderate Buy and a consensus target price of $36.33.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $33.45 on Monday. Tower Semiconductor has a 1 year low of $21.43 and a 1 year high of $45.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.15 and a current ratio of 6.17. The company’s fifty day moving average price is $31.54 and its 200 day moving average price is $28.37. The company has a market capitalization of $3.66 billion, a PE ratio of 7.19 and a beta of 0.94.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, February 14th. The semiconductor company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.02. The firm had revenue of $351.71 million during the quarter, compared to analyst estimates of $350.00 million. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. On average, research analysts predict that Tower Semiconductor will post 1.52 earnings per share for the current year.

Institutional Trading of Tower Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of TSEM. Vanguard Group Inc. raised its position in Tower Semiconductor by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 3,726,278 shares of the semiconductor company’s stock valued at $113,726,000 after purchasing an additional 56,410 shares during the period. Sphera Funds Management LTD. raised its holdings in Tower Semiconductor by 12.5% in the 4th quarter. Sphera Funds Management LTD. now owns 528,300 shares of the semiconductor company’s stock valued at $16,124,000 after buying an additional 58,726 shares during the period. Voya Investment Management LLC lifted its position in Tower Semiconductor by 46.0% in the fourth quarter. Voya Investment Management LLC now owns 460,921 shares of the semiconductor company’s stock valued at $14,067,000 after buying an additional 145,190 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Tower Semiconductor during the fourth quarter worth about $2,721,000. Finally, Royal Bank of Canada increased its position in shares of Tower Semiconductor by 31.0% during the fourth quarter. Royal Bank of Canada now owns 80,043 shares of the semiconductor company’s stock valued at $2,443,000 after acquiring an additional 18,934 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

About Tower Semiconductor

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