Tower Semiconductor (TSEM) Upgraded at BidaskClub

BidaskClub upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a sell rating to a hold rating in a report published on Friday morning.

A number of other analysts have also commented on the company. Drexel Hamilton reissued a buy rating and set a $46.00 price target on shares of Tower Semiconductor in a research note on Thursday, February 22nd. ValuEngine raised Tower Semiconductor from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $43.75.

Shares of TSEM stock opened at $28.70 on Friday. Tower Semiconductor has a 12 month low of $20.60 and a 12 month high of $36.69. The stock has a market cap of $2,803.10, a PE ratio of 12.99, a PEG ratio of 0.87 and a beta of 1.15. The company has a current ratio of 2.89, a quick ratio of 2.42 and a debt-to-equity ratio of 0.22.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.02. Tower Semiconductor had a return on equity of 26.17% and a net margin of 21.48%. The firm had revenue of $358.00 million for the quarter, compared to analyst estimates of $358.10 million. During the same period last year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. equities analysts predict that Tower Semiconductor will post 2.17 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Tower Semiconductor by 1.5% during 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 raised its position in shares of Tower Semiconductor by 55.4% during 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. Meitav Dash Investments Ltd. bought a new position in shares of Tower Semiconductor during the fourth quarter worth about $24,173,000. Acadian Asset Management LLC raised its position in shares of Tower Semiconductor by 50.6% during 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. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Tower Semiconductor during the fourth quarter worth about $22,891,000. Institutional investors own 47.68% of the company’s stock.

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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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