Tower Semiconductor Ltd. (NASDAQ:TSEM) Stock Has Average Target Price of $316.00

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have received an average rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $316.00.

Several research analysts recently commented on TSEM shares. Stifel Nicolaus started coverage on Tower Semiconductor in a research report on Tuesday, September 1st. They issued a “buy” rating and a $270.00 price target for the company. Barclays assumed coverage on Tower Semiconductor in a research report on Friday, September 18th. They issued an “overweight” rating and a $310.00 price target for the company. Bank of America began coverage on shares of Tower Semiconductor in a research note on Friday, August 7th. They set a “buy” rating and a $367.00 price objective for the company. National Bank Financial raised shares of Tower Semiconductor to a “buy” rating in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Tower Semiconductor from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 18th.

Tower Semiconductor Price Performance

TSEM stock opened at $167.71 on Friday. Tower Semiconductor has a 52 week low of $72.55 and a 52 week high of $319.94. The company has a quick ratio of 4.31, a current ratio of 4.91 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $219.83 and a two-hundred day simple moving average of $232.62. The firm has a market capitalization of $18.86 billion, a P/E ratio of 66.29 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $460.08 million for the quarter, compared to the consensus estimate of $454.68 million. Tower Semiconductor had a net margin of 16.94% and a return on equity of 9.83%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 EPS. Analysts anticipate that Tower Semiconductor will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at Tower Semiconductor

In other Tower Semiconductor news, Director Yoav Chelouche sold 232 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $215.06, for a total value of $49,893.92. Following the completion of the sale, the director owned 33,734 shares of the company’s stock, valued at $7,254,834.04. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Russell Ellwanger sold 104,226 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $248.34, for a total transaction of $25,883,484.84. Following the completion of the sale, the chief executive officer directly owned 526,788 shares of the company’s stock, valued at approximately $130,822,531.92. The trade was a 16.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 181,767 shares of company stock valued at $45,610,065. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of TSEM. Sterling Capital Management LLC bought a new position in Tower Semiconductor in the 3rd quarter valued at $75,000. Five Oceans Advisors purchased a new stake in Tower Semiconductor in the third quarter worth $214,000. SBI Securities Co. Ltd. increased its stake in Tower Semiconductor by 1.8% in the third quarter. SBI Securities Co. Ltd. now owns 5,111 shares of the semiconductor company’s stock worth $1,162,000 after purchasing an additional 92 shares during the period. Capstone Capital Management Ltd lifted its position in shares of Tower Semiconductor by 47.2% during the third quarter. Capstone Capital Management Ltd now owns 10,509 shares of the semiconductor company’s stock worth $2,390,000 after purchasing an additional 3,372 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Tower Semiconductor by 34.2% during the third quarter. Assenagon Asset Management S.A. now owns 158,901 shares of the semiconductor company’s stock worth $37,115,000 after purchasing an additional 40,495 shares during the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

About Tower Semiconductor

Tower Semiconductor Ltd. is an Israeli specialty semiconductor foundry that manufactures integrated circuits for fabless semiconductor companies, integrated device manufacturers and system companies. The company provides process technologies and production services rather than selling branded end-user electronics.

Its offerings include analog and mixed-signal technologies, radio-frequency and high-voltage circuits, power management solutions, image sensors, and specialty memory products.