Benchmark Reiterates “Buy” Rating for Tower Semiconductor (NASDAQ:TSEM)

Benchmark reiterated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research note released on Thursday,Benzinga reports. They currently have a $55.00 price objective on the semiconductor company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Susquehanna boosted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Trading Down 3.9 %

NASDAQ TSEM traded down $1.81 on Thursday, reaching $44.49. The company had a trading volume of 381,274 shares, compared to its average volume of 519,844. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 24.26 and a beta of 0.90. The business has a 50 day moving average of $43.62 and a two-hundred day moving average of $40.54. Tower Semiconductor has a fifty-two week low of $26.62 and a fifty-two week high of $50.25.

Hedge Funds Weigh In On Tower Semiconductor

Several large investors have recently made changes to their positions in TSEM. Summit Partners Public Asset Management LLC boosted its stake in shares of Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after acquiring an additional 1,376,315 shares during the period. Y.D. More Investments Ltd raised its stake in Tower Semiconductor by 9,622.0% during the 2nd quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company’s stock worth $35,952,000 after buying an additional 902,546 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Tower Semiconductor by 169.0% in the second quarter. Point72 Asset Management L.P. now owns 1,022,121 shares of the semiconductor company’s stock worth $40,180,000 after purchasing an additional 642,121 shares during the last quarter. Meitav Investment House Ltd. grew its holdings in Tower Semiconductor by 25.6% during the second quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock valued at $95,686,000 after purchasing an additional 495,380 shares during the period. Finally, Scopia Capital Management LP purchased a new stake in shares of Tower Semiconductor during the third quarter worth $13,926,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

About Tower Semiconductor

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.