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

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a research report issued on Friday, Marketbeat.com reports. They presently have a $150.00 price target on the semiconductor company’s stock, up from their previous price target of $120.00. Benchmark’s price target suggests a potential upside of 24.97% from the company’s current price.

Several other brokerages have also recently issued reports on TSEM. Wedbush cut shares of Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Susquehanna increased their target price on Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a research report on Tuesday, November 11th. Finally, Barclays raised their target price on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $126.75.

Tower Semiconductor Trading Up 2.3%

NASDAQ:TSEM opened at $120.03 on Friday. The company has a current ratio of 6.61, a quick ratio of 5.54 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $109.74 and its 200 day simple moving average is $76.96. Tower Semiconductor has a twelve month low of $28.64 and a twelve month high of $129.58.

Institutional Trading of Tower Semiconductor

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in Tower Semiconductor by 137.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 432,049 shares of the semiconductor company’s stock valued at $50,564,000 after buying an additional 250,477 shares in the last quarter. AdviceOne Advisory Services LLC purchased a new stake in shares of Tower Semiconductor in the fourth quarter worth $235,000. FNY Investment Advisers LLC increased its holdings in shares of Tower Semiconductor by 1,174.0% during the third quarter. FNY Investment Advisers LLC now owns 1,274 shares of the semiconductor company’s stock valued at $92,000 after acquiring an additional 1,174 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in Tower Semiconductor in the 3rd quarter worth about $48,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.