Brokerages Set Tower Semiconductor Ltd. (NASDAQ:TSEM) Target Price at $58.75

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have been given a consensus recommendation of “Buy” by the four ratings firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $58.75.

TSEM has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research note on Monday, February 3rd. Craig Hallum upped their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark reissued a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna upped their price target on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Tower Semiconductor Stock Down 2.2 %

Shares of TSEM opened at $48.64 on Monday. The business’s fifty day moving average price is $50.76 and its two-hundred day moving average price is $45.69. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 26.29 and a beta of 0.88. Tower Semiconductor has a 52 week low of $28.37 and a 52 week high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same quarter last year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Tower Semiconductor will post 1.81 earnings per share for the current year.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors have recently modified their holdings of the business. Transcendent Capital Group LLC acquired a new stake in Tower Semiconductor during the 3rd quarter worth approximately $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the third quarter worth $38,000. R Squared Ltd bought a new stake in shares of Tower Semiconductor during the fourth quarter worth $61,000. Blue Trust Inc. raised its holdings in shares of Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 1,376 shares during the period. Finally, Signaturefd LLC lifted its position in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 431 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

About Tower Semiconductor

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.