Tower Semiconductor (TSEM) Rating Lowered to Sell at BidaskClub

Tower Semiconductor (NASDAQ:TSEM) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other research firms have also recently commented on TSEM. Drexel Hamilton raised their target price on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Credit Suisse Group initiated coverage on Tower Semiconductor in a research report on Tuesday, September 26th. They set an “outperform” rating and a $36.00 target price on the stock. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Craig Hallum restated a “buy” rating and set a $39.00 target price (up from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. Finally, Needham & Company LLC raised their target price on Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 30th. One analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $43.75.

Shares of Tower Semiconductor (NASDAQ TSEM) opened at $33.78 on Friday. The firm has a market capitalization of $3,325.91, a PE ratio of 17.15, a price-to-earnings-growth ratio of 0.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.85 and a current ratio of 3.44. Tower Semiconductor has a 12-month low of $19.97 and a 12-month high of $36.69.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.07. Tower Semiconductor had a return on equity of 27.82% and a net margin of 14.53%. equities analysts anticipate that Tower Semiconductor will post 2.02 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of TSEM. Winslow Evans & Crocker Inc. acquired a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $120,000. SG Americas Securities LLC acquired a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $207,000. Parametric Portfolio Associates LLC lifted its stake in Tower Semiconductor by 9.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after buying an additional 876 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Tower Semiconductor in the 2nd quarter valued at about $279,000. Finally, Spectrum Asset Management Inc. NB CA purchased a new position in Tower Semiconductor in the 3rd quarter valued at about $290,000. Hedge funds and other institutional investors own 43.84% of the company’s stock.

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About Tower Semiconductor

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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