Tower Semiconductor (TSEM) Upgraded to Strong-Buy by ValuEngine

Tower Semiconductor (NASDAQ:TSEM) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

TSEM has been the topic of a number of other reports. Drexel Hamilton raised their target price on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. BidaskClub upgraded Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC raised their target price 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. Credit Suisse Group raised their target price on Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 15th. Finally, Craig Hallum restated a “buy” rating and set a $39.00 target price (up from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Tower Semiconductor currently has an average rating of “Buy” and a consensus price target of $43.75.

Shares of Tower Semiconductor (NASDAQ TSEM) traded down $1.22 on Friday, reaching $32.22. The company’s stock had a trading volume of 1,004,635 shares, compared to its average volume of 453,666. The firm has a market cap of $3,172.32, a P/E ratio of 16.36, a P/E/G ratio of 0.87 and a beta of 0.92. 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 has a 12 month low of $20.60 and a 12 month high of $36.69.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results 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%. The firm had revenue of $354.56 million for the quarter, compared to analysts’ expectations of $355.45 million. analysts predict that Tower Semiconductor will post 2.02 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Tower Semiconductor by 22.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,840,765 shares of the semiconductor company’s stock valued at $43,902,000 after acquiring an additional 331,647 shares during the period. Macquarie Group Ltd. lifted its stake in Tower Semiconductor by 7.5% in the 3rd quarter. Macquarie Group Ltd. now owns 1,770,009 shares of the semiconductor company’s stock valued at $54,427,000 after buying an additional 123,841 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Tower Semiconductor by 8.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,238,386 shares of the semiconductor company’s stock valued at $29,536,000 after buying an additional 93,200 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its stake in Tower Semiconductor by 15.5% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,008,313 shares of the semiconductor company’s stock valued at $31,006,000 after buying an additional 135,681 shares in the last quarter. Finally, Bank Hapoalim BM lifted its stake in Tower Semiconductor by 0.4% in the 3rd quarter. Bank Hapoalim BM now owns 975,117 shares of the semiconductor company’s stock valued at $29,985,000 after buying an additional 3,910 shares in the last quarter. Hedge funds and other institutional investors own 43.69% of the company’s stock.

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About Tower Semiconductor

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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