Tower Semiconductor (NASDAQ:TSEM) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Tower Semiconductor (NASDAQ:TSEM) from a buy rating to a hold rating in a report published on Monday, ValuEngine reports.

Several other analysts also recently issued reports on TSEM. BidaskClub raised shares of Tower Semiconductor from a hold rating to a buy rating in a research note on Friday. TheStreet downgraded shares of Tower Semiconductor from a b- rating to a c rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $22.34.

Shares of NASDAQ:TSEM opened at $19.83 on Monday. The company has a current ratio of 4.82, a quick ratio of 3.99 and a debt-to-equity ratio of 0.21. Tower Semiconductor has a 12 month low of $13.56 and a 12 month high of $21.26. The company has a 50-day moving average price of $19.50 and a 200 day moving average price of $17.68. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 2.31 and a beta of 1.23.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Monday, July 29th. The semiconductor company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.05. Tower Semiconductor had a net margin of 9.34% and a return on equity of 11.19%. The firm had revenue of $306.06 million during the quarter, compared to the consensus estimate of $303.15 million. During the same quarter last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, equities analysts forecast that Tower Semiconductor will post 0.89 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC lifted its stake in Tower Semiconductor by 7.1% in the second quarter. HighTower Advisors LLC now owns 224,516 shares of the semiconductor company’s stock worth $3,515,000 after purchasing an additional 14,827 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Tower Semiconductor during the second quarter worth approximately $256,000. Cortina Asset Management LLC increased its position in shares of Tower Semiconductor by 5.2% during the second quarter. Cortina Asset Management LLC now owns 419,884 shares of the semiconductor company’s stock worth $6,622,000 after acquiring an additional 20,784 shares during the period. Renaissance Technologies LLC increased its position in shares of Tower Semiconductor by 14.6% during the second quarter. Renaissance Technologies LLC now owns 1,553,786 shares of the semiconductor company’s stock worth $24,503,000 after acquiring an additional 197,500 shares during the period. Finally, Eagle Global Advisors LLC increased its position in shares of Tower Semiconductor by 20.6% during the second quarter. Eagle Global Advisors LLC now owns 76,123 shares of the semiconductor company’s stock worth $1,200,000 after acquiring an additional 13,000 shares during the period. 51.09% of the stock is owned by institutional investors and hedge funds.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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