Tower Semiconductor’s (TSEM) Buy Rating Reiterated at Benchmark

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating restated by equities researchers at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $60.00 price objective on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 27.77% from the company’s previous close.

TSEM has been the topic of several other reports. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Wedbush restated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Monday, February 3rd. 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, Craig Hallum lifted their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $46.96 on Tuesday. The company has a market capitalization of $5.20 billion, a PE ratio of 25.38 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 stock’s fifty day moving average is $50.76 and its two-hundred day moving average is $45.71. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

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

Institutional Trading of Tower Semiconductor

Several hedge funds have recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new position in shares of Tower Semiconductor in the 3rd quarter worth approximately $27,000. R Squared Ltd acquired a new stake in Tower Semiconductor in the fourth quarter valued at approximately $61,000. Blue Trust Inc. grew its holdings in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC increased its position in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after purchasing an additional 431 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Tower Semiconductor during the 4th quarter valued at $134,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.