Tower Semiconductor (TSEM) Upgraded to Strong-Buy by ValuEngine

ValuEngine upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday morning.

A number of other research analysts also recently weighed in on TSEM. Credit Suisse Group assumed coverage on Tower Semiconductor in a report on Tuesday, September 26th. They set an outperform rating and a $36.00 target price on the stock. Drexel Hamilton upped their target price on Tower Semiconductor from $36.00 to $38.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Craig Hallum reiterated a buy rating and set a $39.00 target price (up previously from $32.00) on shares of Tower Semiconductor in a report on Wednesday, November 8th. BidaskClub downgraded Tower Semiconductor from a buy rating to a hold rating in a report on Tuesday, December 5th. Finally, Needham & Company LLC upped their price target on Tower Semiconductor from $45.00 to $50.00 and gave the stock a strong-buy rating in a research note on Thursday, November 30th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $43.75.

Tower Semiconductor (TSEM) traded down $0.23 during mid-day trading on Friday, hitting $34.08. The company’s stock had a trading volume of 237,400 shares, compared to its average volume of 673,964. Tower Semiconductor has a 1 year low of $18.98 and a 1 year high of $36.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.44 and a quick ratio of 2.85. The stock has a market cap of $3,345.55, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.12 and a beta of 0.96.

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in shares of Tower Semiconductor by 9.2% in the 2nd quarter. Wells Fargo & Company MN now owns 88,285 shares of the semiconductor company’s stock worth $2,106,000 after buying an additional 7,445 shares during the last quarter. HighVista Strategies LLC purchased a new stake in shares of Tower Semiconductor in the 2nd quarter worth approximately $3,043,000. Ameriprise Financial Inc. grew its stake in shares of Tower Semiconductor by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 500,563 shares of the semiconductor company’s stock worth $11,937,000 after buying an additional 31,572 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tower Semiconductor by 22.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock worth $43,902,000 after buying an additional 331,647 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of Tower Semiconductor in the 2nd quarter worth approximately $9,068,000. Institutional investors own 43.97% 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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