Benchmark Reaffirms “Buy” Rating for Tower Semiconductor (NASDAQ:TSEM)

Benchmark restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a report issued on Thursday,Benzinga reports. Benchmark currently has a $60.00 price target on the semiconductor company’s stock.

Separately, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $37.29 on Thursday. Tower Semiconductor has a 1 year low of $28.64 and a 1 year high of $55.31. The company’s 50 day simple moving average is $36.80 and its 200 day simple moving average is $44.30. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of 20.05 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18.

Institutional Trading of Tower Semiconductor

Institutional investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in Tower Semiconductor in the fourth quarter valued at $61,000. Blue Trust Inc. raised its holdings in shares of Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares during the period. Crews Bank & Trust acquired a new position in shares of Tower Semiconductor in the 4th quarter valued at about $134,000. Caption Management LLC purchased a new stake in shares of Tower Semiconductor during the 4th quarter worth about $155,000. Finally, Cornerstone Investment Partners LLC purchased a new position in Tower Semiconductor in the fourth quarter valued at approximately $203,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Company Profile

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.