Analysts Set Tower Semiconductor Ltd. (NASDAQ:TSEM) Price Target at $276.75

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $276.75.

TSEM has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating on shares of Tower Semiconductor in a report on Wednesday. Wedbush upped their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Susquehanna raised their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Finally, UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday.

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in Tower Semiconductor by 3,222.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,682,152 shares of the semiconductor company’s stock worth $549,779,000 after acquiring an additional 4,541,235 shares during the period. Vanguard Group Inc. grew its holdings in shares of Tower Semiconductor by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 4,338,080 shares of the semiconductor company’s stock worth $507,317,000 after purchasing an additional 53,112 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company’s stock worth $352,589,000 after purchasing an additional 25,000 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Tower Semiconductor by 214.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,206,467 shares of the semiconductor company’s stock worth $259,083,000 after purchasing an additional 1,505,421 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Tower Semiconductor by 0.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,108,004 shares of the semiconductor company’s stock worth $152,409,000 after purchasing an additional 15,461 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Price Performance

TSEM stock opened at $234.10 on Wednesday. The company has a market cap of $26.32 billion, a price-to-earnings ratio of 108.88 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. Tower Semiconductor has a 12 month low of $43.12 and a 12 month high of $319.94. The firm has a 50-day moving average of $255.87 and a two-hundred day moving average of $190.09.

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.