Tower Semiconductor Ltd. (NASDAQ:TSEM) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Other research analysts also recently issued reports about the company. TheStreet upgraded Tower Semiconductor from a “c” rating to a “b-” rating in a research report on Monday, May 8th. Needham & Company LLC restated a “strong-buy” rating and set a $35.00 price objective (up from $30.00) on shares of Tower Semiconductor in a research report on Tuesday, May 9th. Finally, ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Tower Semiconductor has an average rating of “Buy” and a consensus target price of $31.50.

Tower Semiconductor (NASDAQ:TSEM) traded up 2.50% during midday trading on Friday, hitting $26.27. The stock had a trading volume of 4,446,209 shares. Tower Semiconductor has a 12-month low of $12.65 and a 12-month high of $26.41. The firm has a market cap of $2.47 billion, a P/E ratio of 14.09 and a beta of 0.98. The stock has a 50-day moving average price of $24.79 and a 200 day moving average price of $22.41.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Monday, May 8th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Tower Semiconductor had a return on equity of 28.41% and a net margin of 14.10%. The firm had revenue of $330.10 million during the quarter, compared to the consensus estimate of $330 million. During the same period in the previous year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts anticipate that Tower Semiconductor will post $2.03 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of TSEM. Sei Investments Co. increased its position in shares of Tower Semiconductor by 12.7% in the first quarter. Sei Investments Co. now owns 10,593 shares of the semiconductor company’s stock valued at $244,000 after buying an additional 1,190 shares in the last quarter. Stevens Capital Management LP increased its position in shares of Tower Semiconductor by 15.8% in the first quarter. Stevens Capital Management LP now owns 21,138 shares of the semiconductor company’s stock valued at $487,000 after buying an additional 2,880 shares in the last quarter. USA Financial Portformulas Corp increased its position in shares of Tower Semiconductor by 33.6% in the fourth quarter. USA Financial Portformulas Corp now owns 14,094 shares of the semiconductor company’s stock valued at $268,000 after buying an additional 3,542 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tower Semiconductor by 53.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,202 shares of the semiconductor company’s stock valued at $281,000 after buying an additional 4,270 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Tower Semiconductor by 3.2% in the first quarter. Swiss National Bank now owns 137,766 shares of the semiconductor company’s stock valued at $3,177,000 after buying an additional 4,270 shares in the last quarter. Hedge funds and other institutional investors own 48.76% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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