Tower Semiconductor (TSEM) Receives Average Rating of “Buy” from Analysts

Tower Semiconductor (NASDAQ:TSEM) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $39.25.

A number of research analysts have recently commented on TSEM shares. Drexel Hamilton reaffirmed a “buy” rating and set a $46.00 target price on shares of Tower Semiconductor in a research note on Thursday, February 22nd. Needham & Company LLC cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating and cut their target price for the company from $50.00 to $32.00 in a research note on Tuesday, May 8th. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a research note on Friday, April 13th. Finally, ValuEngine cut Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 7th.

Shares of Tower Semiconductor traded down $0.01, reaching $24.84, during mid-day trading on Wednesday, according to MarketBeat Ratings. 421,369 shares of the company’s stock traded hands, compared to its average volume of 799,297. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 0.87 and a beta of 1.17. Tower Semiconductor has a 12 month low of $24.73 and a 12 month high of $24.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.43 and a current ratio of 2.91.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Monday, May 7th. The semiconductor company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The business had revenue of $312.70 million for the quarter, compared to the consensus estimate of $325.03 million. Tower Semiconductor had a net margin of 20.34% and a return on equity of 21.96%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.48 EPS. analysts predict that Tower Semiconductor will post 1.91 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lombard Odier Asset Management USA Corp boosted its holdings in shares of Tower Semiconductor by 227.8% in the fourth quarter. Lombard Odier Asset Management USA Corp now owns 81,938 shares of the semiconductor company’s stock valued at $2,792,000 after purchasing an additional 56,938 shares during the period. Swiss National Bank boosted its holdings in shares of Tower Semiconductor by 3.2% in the fourth quarter. Swiss National Bank now owns 158,488 shares of the semiconductor company’s stock valued at $5,460,000 after purchasing an additional 4,871 shares during the period. Meitav Dash Investments Ltd. purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $24,173,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Tower Semiconductor by 85.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 32,700 shares of the semiconductor company’s stock valued at $1,114,000 after purchasing an additional 15,100 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Tower Semiconductor by 26.5% in the fourth quarter. Wells Fargo & Company MN now owns 132,093 shares of the semiconductor company’s stock valued at $4,502,000 after purchasing an additional 27,675 shares during the period. Hedge funds and other institutional investors own 47.46% of the company’s stock.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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