Tower Semiconductor Ltd. (TSEM) Receives $30.92 Consensus Target Price from Analysts

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have earned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.79.

Several research firms recently commented on TSEM. Craig Hallum set a $29.00 price target on shares of Tower Semiconductor and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target (down previously from $32.00) on shares of Tower Semiconductor in a research note on Friday, July 27th. BidaskClub raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Credit Suisse Group reduced their price target on shares of Tower Semiconductor from $31.50 to $28.50 and set an “outperform” rating on the stock in a research note on Friday, July 27th. Finally, Standpoint Research raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Tuesday, August 28th.

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in Tower Semiconductor by 50.2% during the 1st quarter. Wells Fargo & Company MN now owns 198,437 shares of the semiconductor company’s stock worth $5,340,000 after acquiring an additional 66,344 shares in the last quarter. Northern Trust Corp grew its holdings in Tower Semiconductor by 42.2% during the 1st quarter. Northern Trust Corp now owns 158,522 shares of the semiconductor company’s stock worth $4,266,000 after acquiring an additional 47,007 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Tower Semiconductor by 18.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 365,568 shares of the semiconductor company’s stock worth $9,837,000 after acquiring an additional 55,668 shares in the last quarter. Sei Investments Co. grew its holdings in Tower Semiconductor by 151.1% during the 1st quarter. Sei Investments Co. now owns 34,187 shares of the semiconductor company’s stock worth $920,000 after acquiring an additional 20,574 shares in the last quarter. Finally, Koch Industries Inc. grew its holdings in Tower Semiconductor by 48.0% during the 1st quarter. Koch Industries Inc. now owns 18,012 shares of the semiconductor company’s stock worth $485,000 after acquiring an additional 5,838 shares in the last quarter. 46.66% of the stock is currently owned by institutional investors.

Shares of TSEM remained flat at $$20.40 during midday trading on Friday. 404,765 shares of the stock traded hands, compared to its average volume of 670,949. Tower Semiconductor has a 1-year low of $19.26 and a 1-year high of $36.69. The stock has a market capitalization of $2.14 billion, a P/E ratio of 9.23 and a beta of 1.03. The company has a current ratio of 3.07, a quick ratio of 2.58 and a debt-to-equity ratio of 0.11.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Thursday, July 26th. The semiconductor company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). The firm had revenue of $335.10 million during the quarter, compared to analysts’ expectations of $335.00 million. Tower Semiconductor had a net margin of 19.58% and a return on equity of 19.19%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. As a group, sell-side analysts forecast that Tower Semiconductor will post 1.63 EPS for the current year.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd. engages in the manufacture of integrated circuits. Its products include semiconductors and integrated circuits used in consumer electronics, personal computers, communications, automotive, industrial, and medical device products. The company was founded in 1993 and is headquartered in Migdal Haemek, Israel.

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Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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