Tower Semiconductor (TSEM) Downgraded to Sell at BidaskClub

Tower Semiconductor (NASDAQ:TSEM) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other research firms have also recently commented on TSEM. Drexel Hamilton boosted their price objective on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Credit Suisse Group started coverage on Tower Semiconductor in a research report on Tuesday, September 26th. They issued an “outperform” rating and a $36.00 price objective for the company. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Craig Hallum restated a “buy” rating and issued a $39.00 price objective (up from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. Finally, Needham & Company LLC boosted their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Tower Semiconductor currently has a consensus rating of “Buy” and a consensus price target of $43.75.

Tower Semiconductor (NASDAQ:TSEM) traded down $0.19 during trading on Friday, hitting $33.78. The stock had a trading volume of 313,378 shares, compared to its average volume of 311,228. The stock has a market capitalization of $3,325.91, a PE ratio of 17.15, a PEG ratio of 0.92 and a beta of 0.96. Tower Semiconductor has a 1-year low of $19.97 and a 1-year high of $36.69. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.44 and a quick ratio of 2.85.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.07. Tower Semiconductor had a return on equity of 27.82% and a net margin of 14.53%. equities analysts forecast that Tower Semiconductor will post 2.02 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC increased its position in shares of Tower Semiconductor by 9.3% during the second quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock worth $246,000 after purchasing an additional 876 shares in the last quarter. First Allied Advisory Services Inc. increased its position in shares of Tower Semiconductor by 2.1% during the second quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock worth $1,068,000 after purchasing an additional 905 shares in the last quarter. Renaissance Group LLC increased its position in shares of Tower Semiconductor by 7.8% during the third quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 1,506 shares in the last quarter. Tanaka Capital Management Inc. increased its position in shares of Tower Semiconductor by 1.4% during the second quarter. Tanaka Capital Management Inc. now owns 178,186 shares of the semiconductor company’s stock worth $4,250,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Tower Semiconductor by 17.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 20,500 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 43.84% of the company’s stock.

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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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