Tower Semiconductor (NASDAQ:TSEM) Upgraded by StockNews.com to Strong-Buy

Tower Semiconductor (NASDAQ:TSEM) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.

A number of other analysts also recently weighed in on the company. Craig Hallum increased their price target on Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of Tower Semiconductor in a report on Friday, May 10th. Finally, Susquehanna upgraded Tower Semiconductor from a “neutral” rating to a “positive” rating and raised their target price for the company from $36.00 to $55.00 in a research note on Friday, May 10th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Buy” and a consensus target price of $46.33.

Tower Semiconductor Trading Down 0.2 %

Tower Semiconductor stock traded down $0.08 during trading hours on Thursday, reaching $40.73. 581,852 shares of the company’s stock were exchanged, compared to its average volume of 549,963. The company has a quick ratio of 4.46, a current ratio of 5.38 and a debt-to-equity ratio of 0.06. The firm’s 50 day simple moving average is $37.80 and its 200 day simple moving average is $33.65. Tower Semiconductor has a twelve month low of $21.43 and a twelve month high of $41.66. The firm has a market capitalization of $4.48 billion, a PE ratio of 9.24 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. The firm had revenue of $327.24 million during the quarter, compared to the consensus estimate of $325.00 million. Research analysts predict that Tower Semiconductor will post 1.67 earnings per share for the current year.

Institutional Trading of Tower Semiconductor

Several large investors have recently made changes to their positions in the company. CVA Family Office LLC bought a new position in Tower Semiconductor in the 4th quarter valued at about $47,000. Quadrant Capital Group LLC lifted its position in Tower Semiconductor by 34.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 413 shares in the last quarter. Signaturefd LLC lifted its position in Tower Semiconductor by 189.8% in the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 1,321 shares in the last quarter. Principal Securities Inc. bought a new position in Tower Semiconductor in the 4th quarter valued at about $71,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Tower Semiconductor in the 1st quarter valued at about $164,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

About Tower Semiconductor

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