Tower Semiconductor (NASDAQ:TSEM) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEMFree Report) in a report released on Friday, Benzinga reports. The brokerage currently has a $40.00 target price on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on TSEM. Susquehanna upgraded Tower Semiconductor from a neutral rating to a positive rating and upped their price target for the company from $36.00 to $55.00 in a research report on Friday. TheStreet upgraded Tower Semiconductor from a c+ rating to a b- rating in a report on Friday, March 8th. Finally, StockNews.com upgraded Tower Semiconductor from a hold rating to a buy rating in a report on Monday, March 25th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tower Semiconductor currently has a consensus rating of Buy and a consensus target price of $46.33.

Read Our Latest Research Report on TSEM

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $36.48 on Friday. The company has a fifty day simple moving average of $32.75 and a 200-day simple moving average of $30.28. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 8.27 and a beta of 0.93. The company has a quick ratio of 4.46, a current ratio of 5.38 and a debt-to-equity ratio of 0.06. Tower Semiconductor has a 52-week low of $21.43 and a 52-week high of $41.81.

Tower Semiconductor (NASDAQ:TSEMGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. The firm had revenue of $327.24 million for the quarter, compared to analyst estimates of $325.00 million. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. On average, equities analysts anticipate that Tower Semiconductor will post 1.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambiar Investors LLC acquired a new stake in shares of Tower Semiconductor during the 3rd quarter worth about $1,813,000. Paradiem LLC increased its position in shares of Tower Semiconductor by 65.4% during the third quarter. Paradiem LLC now owns 25,934 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 10,252 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Tower Semiconductor during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its stake in shares of Tower Semiconductor by 336.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the semiconductor company’s stock valued at $52,000 after acquiring an additional 1,635 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Tower Semiconductor in the 3rd quarter worth approximately $42,314,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

(Get Free Report)

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It 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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