Tower Semiconductor (NASDAQ:TSEM) Trading Down 15.9% – Here’s Why

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price was down 15.9% during trading on Monday . The company traded as low as $46.10 and last traded at $46.03. Approximately 925,000 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 633,497 shares. The stock had previously closed at $54.74.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSEM shares. Susquehanna increased their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Craig Hallum increased their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Benchmark restated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Stock Performance

The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $50.52 and a two-hundred day simple moving average of $45.28. The firm has a market cap of $5.19 billion, a PE ratio of 25.33 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same quarter last year, the firm posted $0.47 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in TSEM. Transcendent Capital Group LLC bought a new position in shares of Tower Semiconductor during the 3rd quarter worth $27,000. USA Financial Formulas bought a new position in shares of Tower Semiconductor during the 3rd quarter worth $38,000. R Squared Ltd bought a new stake in Tower Semiconductor during the fourth quarter valued at about $61,000. Blue Trust Inc. boosted its position in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,376 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares in the last quarter. Institutional investors 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.