Tower Semiconductor’s (TSEM) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research note issued to investors on Tuesday,RTT News reports. The brokerage currently has a $60.00 price objective on the semiconductor company’s stock.

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

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $45.78 on Tuesday. 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 has a 52-week low of $28.37 and a 52-week high of $55.31. The company has a fifty day moving average of $50.74 and a 200-day moving average of $45.75. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 24.75 and a beta of 0.88.

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. The business had revenue of $370.50 million during the quarter, compared to analyst estimates 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 was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Equities research analysts expect that Tower Semiconductor will post 1.81 EPS for the current year.

Institutional Investors Weigh In On Tower Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new position in Tower Semiconductor in the third quarter worth about $27,000. R Squared Ltd bought a new position in shares of Tower Semiconductor in the 4th quarter worth approximately $61,000. Blue Trust Inc. raised its position in shares of Tower Semiconductor by 319.3% in the 3rd 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 in the last quarter. Signaturefd LLC lifted its stake in shares of 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 purchasing an additional 431 shares during the period. Finally, Crews Bank & Trust bought a new stake in shares of Tower Semiconductor during the fourth quarter valued at approximately $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.