Tower Semiconductor (NASDAQ:TSEM) Reaches New 12-Month High – Here’s What Happened

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares reached a new 52-week high during trading on Thursday . The company traded as high as $198.94 and last traded at $193.7380, with a volume of 1478478 shares traded. The stock had previously closed at $187.07.

Wall Street Analyst Weigh In

TSEM has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Benchmark upped their price target on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Barclays raised their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price objective on shares of Tower Semiconductor in a research note on Thursday, February 12th. Finally, Wedbush increased their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $173.00.

Tower Semiconductor Stock Up 5.0%

The company has a market capitalization of $22.09 billion, a price-to-earnings ratio of 101.93 and a beta of 0.70. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $138.17 and a 200-day moving average price of $111.72.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. The business had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.Tower Semiconductor’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

A number of large investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Tower Semiconductor in the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Tower Semiconductor by 254.2% in the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Tower Semiconductor by 100.0% in the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after buying an additional 226 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Tower Semiconductor in the third quarter worth $48,000. Finally, Covestor Ltd purchased a new position in shares of Tower Semiconductor during the third quarter valued at $52,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.