Tower Semiconductor (NASDAQ:TSEM) Earns Outperform Rating from Wedbush

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research report issued on Tuesday,RTT News reports. They currently have a $60.00 price target on the semiconductor company’s stock. Wedbush’s price objective indicates a potential upside of 31.78% from the company’s previous close.

Several other research firms have also commented on TSEM. Susquehanna increased their target price on Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Craig Hallum increased 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. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of Tower Semiconductor in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Stock Down 0.5 %

TSEM stock opened at $45.53 on Tuesday. The company’s 50 day moving average price is $50.68 and its 200 day moving average price is $45.77. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 24.61 and a beta of 0.88. Tower Semiconductor has a fifty-two week low of $28.37 and a fifty-two 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 announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The company 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 quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. On average, equities research analysts anticipate that Tower Semiconductor will post 1.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

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

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.