Tower Semiconductor (NASDAQ:TSEM) Hits New 12-Month High – Time to Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $140.63 and last traded at $139.54, with a volume of 10899 shares. The stock had previously closed at $136.89.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TSEM. Benchmark reaffirmed a “buy” rating and set a $150.00 price target (up previously from $120.00) on shares of Tower Semiconductor in a research note on Friday, January 9th. Barclays boosted their target price on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Susquehanna increased their price target on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Finally, Wedbush cut shares of Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research note on Wednesday, December 31st. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $126.75.

Tower Semiconductor Price Performance

The company has a current ratio of 6.61, a quick ratio of 5.54 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $121.38 and its two-hundred day moving average price is $86.77. The stock has a market cap of $14.93 billion, a P/E ratio of 79.34 and a beta of 0.89.

Institutional Trading of Tower Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the fourth quarter worth about $27,000. CIBC Private Wealth Group LLC grew its holdings in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 300 shares in the last quarter. Westside Investment Management Inc. increased its stake in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 226 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Tower Semiconductor by 344.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 403 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in shares of Tower Semiconductor during the 4th quarter valued at approximately $68,000. Institutional investors own 70.51% of the company’s stock.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.