Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $43.75.
TSEM has been the topic of a number of analyst reports. Needham & Company LLC increased their price objective on shares of Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 30th. Drexel Hamilton reiterated a “buy” rating and set a $46.00 price objective on shares of Tower Semiconductor in a research note on Wednesday, November 29th. BidaskClub downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, ValuEngine upgraded shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st.
Shares of Tower Semiconductor (NASDAQ TSEM) traded down $0.19 during trading on Tuesday, reaching $28.42. 16,637 shares of the company’s stock were exchanged, compared to its average volume of 642,419. The firm has a market capitalization of $2,934.05, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 0.92 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.89 and a quick ratio of 2.42. Tower Semiconductor has a 12-month low of $20.60 and a 12-month high of $36.69.
Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $358.00 million for the quarter, compared to the consensus estimate of $358.10 million. Tower Semiconductor had a net margin of 21.48% and a return on equity of 26.17%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. research analysts forecast that Tower Semiconductor will post 2.17 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its holdings in shares of Tower Semiconductor by 1.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,796,395 shares of the semiconductor company’s stock worth $61,221,000 after acquiring an additional 26,386 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its holdings in shares of Tower Semiconductor by 55.4% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 911,520 shares of the semiconductor company’s stock worth $31,065,000 after acquiring an additional 325,000 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Tower Semiconductor by 2.8% in the third quarter. Wasatch Advisors Inc. now owns 768,114 shares of the semiconductor company’s stock worth $23,620,000 after acquiring an additional 20,820 shares during the last quarter. Meitav Dash Investments Ltd. bought a new position in shares of Tower Semiconductor in the fourth quarter worth about $24,173,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Tower Semiconductor by 50.6% in the fourth quarter. Acadian Asset Management LLC now owns 688,437 shares of the semiconductor company’s stock worth $23,463,000 after acquiring an additional 231,396 shares during the last quarter. Hedge funds and other institutional investors own 47.63% 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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