Tower Semiconductor Ltd. (NASDAQ:TSEM) Receives Consensus Rating of “Moderate Buy” from Analysts

Tower Semiconductor Ltd. (NASDAQ:TSEM) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $294.80.

Several equities research analysts have recently commented on the stock. National Bank Financial raised shares of Tower Semiconductor to a “buy” rating in a research report on Friday. Benchmark restated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday. Bank of America started coverage on shares of Tower Semiconductor in a report on Friday. They set a “buy” rating and a $367.00 target price for the company. Susquehanna increased their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Finally, UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th.

Institutional Trading of Tower Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in TSEM. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Tower Semiconductor by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after acquiring an additional 25,000 shares during the last quarter. Rockingstone Advisors LLC acquired a new stake in Tower Semiconductor during the fourth quarter worth about $5,296,000. Swiss National Bank raised its position in shares of Tower Semiconductor by 86.0% during the 1st quarter. Swiss National Bank now owns 414,850 shares of the semiconductor company’s stock valued at $70,625,000 after buying an additional 191,839 shares during the period. GF Fund Management CO. LTD. raised its position in Tower Semiconductor by 26,835.5% in the fourth quarter. GF Fund Management CO. LTD. now owns 308,412 shares of the semiconductor company’s stock valued at $36,214,000 after purchasing an additional 307,267 shares during the period. Finally, WT Asset Management Ltd acquired a new position in Tower Semiconductor in the fourth quarter valued at about $78,967,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $252.49 on Friday. The stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 99.80 and a beta of 0.90. Tower Semiconductor has a 1-year low of $45.51 and a 1-year high of $319.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.91 and a quick ratio of 4.92. The business’s fifty day moving average price is $244.83 and its 200-day moving average price is $200.85.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.76 by $0.12. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.The company had revenue of $460.08 million during the quarter, compared to analyst estimates of $454.68 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. Tower Semiconductor’s revenue was up 23.7% compared to the same quarter last year. On average, equities analysts predict that Tower Semiconductor will post 3.04 earnings per share for the current year.

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.