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Investment analysts at Standpoint Research began coverage on shares of Tower Semiconductor (NASDAQ:TSEM) in a note issued to investors on Monday. The firm set a “buy” rating and a $18.00 price target on the stock. Standpoint Research’s price objective suggests a potential upside of 78.75% from the stock’s previous close.

Shares of Tower Semiconductor (NASDAQ:TSEM) traded up 0.10% on Monday, hitting $10.08. 341,059 shares of the company’s stock traded hands. Tower Semiconductor has a one year low of $3.85 and a one year high of $11.78. The stock’s 50-day moving average is $10.21 and its 200-day moving average is $8.84. The company’s market cap is $505.5 million.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Monday, August 4th. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.42 by $0.20. The company had revenue of $234.10 million for the quarter, compared to the consensus estimate of $228.80 million. On average, analysts predict that Tower Semiconductor will post $1.46 earnings per share for the current fiscal year.

Separately, analysts at Imperial Capital initiated coverage on shares of Tower Semiconductor in a research note on Monday, June 23rd. They set an “outperform” rating and a $12.00 price target on the stock.

Tower Semiconductor Ltd. (NASDAQ:TSEM) is an independent specialty foundry dedicated to the manufacture of semiconductors.

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