Drexel Hamilton restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report report published on Thursday. They currently have a $46.00 price objective on the semiconductor company’s stock.
A number of other brokerages have also commented on TSEM. BidaskClub lowered Tower Semiconductor from a buy rating to a hold rating in a report on Tuesday, December 5th. ValuEngine raised Tower Semiconductor from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Craig Hallum reaffirmed a buy rating and issued a $39.00 price objective (up from $32.00) on shares of Tower Semiconductor in a report on Wednesday, November 8th. Needham & Company LLC upped their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the company a strong-buy rating in a report on Thursday, November 30th. Finally, Credit Suisse Group upped their price objective on Tower Semiconductor from $36.00 to $40.00 and gave the company an outperform rating in a report on Wednesday, November 15th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $43.75.
Tower Semiconductor (NASDAQ:TSEM) opened at $30.16 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.85 and a current ratio of 3.44. The firm has a market capitalization of $2,920.00, a P/E ratio of 12.57, a P/E/G ratio of 0.91 and a beta of 0.92. Tower Semiconductor has a 1-year low of $20.60 and a 1-year high of $36.69.
Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Thursday, February 22nd. The semiconductor company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $358.00 million for the quarter, compared to analyst estimates of $358.10 million. Tower Semiconductor had a return on equity of 27.82% and a net margin of 14.53%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. analysts anticipate that Tower Semiconductor will post 2.02 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in TSEM. First Dallas Securities Inc. bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at $119,000. Winslow Evans & Crocker Inc. bought a new stake in shares of Tower Semiconductor during the 3rd quarter valued at $120,000. Advisor Group Inc. lifted its position in shares of Tower Semiconductor by 264.8% during the 4th quarter. Advisor Group Inc. now owns 3,827 shares of the semiconductor company’s stock valued at $130,000 after acquiring an additional 2,778 shares during the period. Villere ST Denis J & Co. LLC bought a new stake in shares of Tower Semiconductor during the 4th quarter valued at $204,000. Finally, SG Americas Securities LLC bought a new stake in shares of Tower Semiconductor during the 3rd quarter valued at $207,000. Hedge funds and other institutional investors own 43.63% 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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