Tower Semiconductor (NASDAQ:TSEM) Trading Up 4.8% – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) rose 4.8% on Thursday . The company traded as high as $53.15 and last traded at $53.15. Approximately 250,676 shares traded hands during trading, a decline of 51% from the average daily volume of 512,156 shares. The stock had previously closed at $50.70.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSEM shares. Craig Hallum increased their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna upped their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Benchmark reaffirmed a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor has an average rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The firm has a market capitalization of $5.80 billion, a P/E ratio of 28.31 and a beta of 0.89. The stock’s 50 day moving average is $49.42 and its two-hundred day moving average is $44.53.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same period last year, the firm posted $0.47 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. raised its stake in shares of Tower Semiconductor by 203.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after purchasing an additional 2,083,262 shares during the period. Summit Partners Public Asset Management LLC increased its position in shares of Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after purchasing an additional 1,376,315 shares during the last quarter. Scopia Capital Management LP bought a new stake in shares of Tower Semiconductor during the 3rd quarter worth approximately $13,926,000. Assenagon Asset Management S.A. bought a new position in shares of Tower Semiconductor in the third quarter valued at $11,094,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Tower Semiconductor by 14.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,298,833 shares of the semiconductor company’s stock worth $51,057,000 after buying an additional 168,827 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.