Tower Semiconductor (NASDAQ:TSEM) Shares Gap Down – Should You Sell?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price gapped down before the market opened on Monday . The stock had previously closed at $222.75, but opened at $212.77. Tower Semiconductor shares last traded at $223.1050, with a volume of 270,296 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on TSEM shares. Benchmark raised their price objective on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Wedbush boosted their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Susquehanna upped their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Price Performance

The company has a market cap of $26.45 billion, a price-to-earnings ratio of 109.42 and a beta of 0.87. The company’s 50-day simple moving average is $253.40 and its 200-day simple moving average is $185.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Institutional Investors Weigh In On Tower Semiconductor

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in Tower Semiconductor by 10.8% during the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock worth $93,000 after buying an additional 77 shares during the period. Silverleafe Capital Partners LLC lifted its holdings in Tower Semiconductor by 3.0% in the 2nd quarter. Silverleafe Capital Partners LLC now owns 2,860 shares of the semiconductor company’s stock worth $745,000 after buying an additional 84 shares in the last quarter. Mackenzie Financial Corp boosted its position in Tower Semiconductor by 2.6% in the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after buying an additional 127 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Tower Semiconductor by 2.6% in the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after buying an additional 131 shares during the last quarter. Finally, Mariner LLC grew its stake in shares of Tower Semiconductor by 2.4% during the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 207 shares in the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

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.