Tower Semiconductor (TSEM) Upgraded by BidaskClub to Hold

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

Other equities research analysts also recently issued reports about the company. Loop Capital lowered their target price on Tower Semiconductor to $28.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Jefferies Financial Group lowered their target price on Tower Semiconductor from $30.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, October 30th. Craig Hallum set a $21.00 target price on Tower Semiconductor and gave the stock a “buy” rating in a report on Tuesday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Tower Semiconductor in a report on Tuesday, October 30th. Finally, Standpoint Research upgraded Tower Semiconductor from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, August 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.50.

Shares of TSEM opened at $16.39 on Friday. Tower Semiconductor has a 1 year low of $13.87 and a 1 year high of $36.69. The company has a quick ratio of 2.58, a current ratio of 3.93 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1.61 billion, a PE ratio of 7.42, a P/E/G ratio of 1.05 and a beta of 1.44.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Monday, October 29th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The company had revenue of $322.60 million for the quarter, compared to the consensus estimate of $335.05 million. Tower Semiconductor had a return on equity of 15.82% and a net margin of 18.43%. Tower Semiconductor’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. On average, research analysts anticipate that Tower Semiconductor will post 1.56 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. LPL Financial LLC increased its holdings in shares of Tower Semiconductor by 4.3% during the first quarter. LPL Financial LLC now owns 59,106 shares of the semiconductor company’s stock valued at $1,591,000 after acquiring an additional 2,422 shares in the last quarter. Taylor Frigon Capital Management LLC increased its holdings in shares of Tower Semiconductor by 2.8% during the second quarter. Taylor Frigon Capital Management LLC now owns 111,552 shares of the semiconductor company’s stock valued at $2,455,000 after acquiring an additional 3,041 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Tower Semiconductor by 1.3% during the second quarter. Raymond James & Associates now owns 249,861 shares of the semiconductor company’s stock valued at $5,499,000 after acquiring an additional 3,246 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Tower Semiconductor by 17.1% during the second quarter. Sei Investments Co. now owns 40,038 shares of the semiconductor company’s stock valued at $881,000 after acquiring an additional 5,851 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Tower Semiconductor by 3.4% during the second quarter. Legal & General Group Plc now owns 279,060 shares of the semiconductor company’s stock valued at $6,179,000 after acquiring an additional 9,091 shares in the last quarter. Institutional investors and hedge funds own 47.14% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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