Tower Semiconductor Ltd. (NASDAQ:TSEM) Receives Average Recommendation of “Buy” from Brokerages

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.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Tower Semiconductor had a return on equity of 5.95% and a net margin of 6.43%. The company had revenue of $310.09 million for the quarter, compared to analyst estimates of $310.00 million. Equities analysts expect that Tower Semiconductor will post 0.85 EPS for the current fiscal year.

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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