Benchmark Increases Tower Semiconductor (NASDAQ:TSEM) Price Target to $165.00

Tower Semiconductor (NASDAQ:TSEM) had its price objective raised by analysts at Benchmark from $150.00 to $165.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Benchmark’s target price points to a potential upside of 28.17% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Barclays raised their target price on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Wedbush lowered Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research report on Wednesday, December 31st. Susquehanna upped their target price on Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Hold” and an average price target of $156.75.

Tower Semiconductor Stock Down 3.6%

Tower Semiconductor stock opened at $128.74 on Thursday. Tower Semiconductor has a fifty-two week low of $28.64 and a fifty-two week high of $149.57. The firm’s 50 day simple moving average is $125.78 and its 200-day simple moving average is $91.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.54.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business had revenue of $440.21 million during the quarter, compared to the consensus estimate of $439.81 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. Analysts anticipate that Tower Semiconductor will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

A number of large investors have recently bought and sold shares of the business. Covestor Ltd raised its holdings in Tower Semiconductor by 10.8% during the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 77 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Tower Semiconductor by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after buying an additional 127 shares during the period. Evergreen Capital Management LLC raised its stake in shares of Tower Semiconductor by 2.6% during the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock worth $601,000 after buying an additional 131 shares during the last quarter. Mariner LLC lifted its holdings in Tower Semiconductor by 2.4% in the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after buying an additional 207 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Tower Semiconductor by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company’s stock valued at $922,000 after acquiring an additional 218 shares during the last quarter. 70.51% of the stock is currently 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.