Tower Semiconductor Ltd. (NASDAQ:TSEM) has received an average recommendation of “Buy” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $23.67.
A number of research analysts have recently commented on the stock. Craig Hallum dropped their price objective on shares of Tower Semiconductor from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. BidaskClub raised shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a research note on Tuesday, July 28th. Needham & Company LLC reissued a “buy” rating and set a $25.00 price objective on shares of Tower Semiconductor in a research note on Wednesday. Finally, Credit Suisse Group upped their price objective on Tower Semiconductor from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th.
Shares of TSEM opened at $21.50 on Tuesday. Tower Semiconductor has a 1 year low of $12.13 and a 1 year high of $25.80. The company’s 50 day simple moving average is $20.50 and its 200 day simple moving average is $20.02. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 29.05 and a beta of 1.42. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.11 and a current ratio of 3.51.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors purchased a new position in shares of Tower Semiconductor in the 1st quarter valued at $52,000. Tower Research Capital LLC TRC raised its position in Tower Semiconductor by 77.7% in the first quarter. Tower Research Capital LLC TRC now owns 3,826 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 1,673 shares during the period. USA Financial Portformulas Corp purchased a new position in Tower Semiconductor in the first quarter valued at about $110,000. PNC Financial Services Group Inc. lifted its stake in shares of Tower Semiconductor by 108.5% during the first quarter. PNC Financial Services Group Inc. now owns 9,031 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Tower Semiconductor by 12.0% in the first quarter. Commonwealth Equity Services LLC now owns 11,818 shares of the semiconductor company’s stock worth $188,000 after buying an additional 1,263 shares during the period. Institutional investors own 53.65% of the company’s stock.
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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