Tower Semiconductor (NASDAQ:TSEM) Shares Gap Up – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares gapped up before the market opened on Thursday . The stock had previously closed at $233.54, but opened at $249.96. Tower Semiconductor shares last traded at $255.2460, with a volume of 428,162 shares traded.

Analyst Ratings Changes

Several equities research analysts have issued reports on TSEM shares. Susquehanna boosted their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Wedbush upped their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Barclays upped their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Finally, Benchmark upped their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Stock Up 5.5%

The stock has a market capitalization of $27.70 billion, a price-to-earnings ratio of 115.01 and a beta of 0.87. The firm’s fifty day moving average is $230.74 and its 200-day moving average is $163.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. The firm had revenue of $413.63 million for the quarter, compared to analysts’ expectations of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. On average, sell-side analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Institutional Trading of Tower Semiconductor

Institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth $27,000. CIBC Private Wealth Group LLC raised its holdings in shares of Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Tower Semiconductor during the third quarter worth $48,000. Kestra Advisory Services LLC acquired a new stake in shares of Tower Semiconductor during the fourth quarter worth $52,000. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of Tower Semiconductor during the first quarter worth $53,000. 70.51% of the stock is owned by institutional investors and hedge funds.

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.