StockNews.com Downgrades Tower Semiconductor (NASDAQ:TSEM) to Hold

StockNews.com cut shares of Tower Semiconductor (NASDAQ:TSEM) from a buy rating to a hold rating in a research note published on Tuesday morning.

Separately, Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Trading Down 3.8 %

Shares of TSEM stock opened at $44.55 on Tuesday. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. The stock has a 50-day simple moving average of $43.62 and a 200 day simple 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. The stock has a market capitalization of $4.94 billion, a P/E ratio of 24.26 and a beta of 0.90.

Institutional Investors Weigh In On Tower Semiconductor

A number of large investors have recently made changes to their positions in TSEM. Barclays PLC grew its position in Tower Semiconductor by 4,081.2% during the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company’s stock valued at $1,060,000 after purchasing an additional 23,385 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its stake in Tower Semiconductor by 140.0% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 24,000 shares of the semiconductor company’s stock valued at $1,062,000 after purchasing an additional 14,000 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Tower Semiconductor during the 3rd quarter worth about $1,979,000. Castleark Management LLC bought a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $5,990,000. Finally, Sphera Funds Management LTD. grew its position in Tower Semiconductor by 40.0% in the third quarter. Sphera Funds Management LTD. now owns 209,441 shares of the semiconductor company’s stock worth $9,270,000 after acquiring an additional 59,841 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.