Tower Semiconductor (NASDAQ:TSEM) Sets New 1-Year High – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $54.72 and last traded at $54.81, with a volume of 6786 shares trading hands. The stock had previously closed at $53.76.

Analyst Ratings Changes

TSEM has been the topic of several recent analyst reports. Susquehanna lifted their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday, November 14th. Craig Hallum increased their price target on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The business’s 50 day moving average price is $49.84 and its 200 day moving average price is $44.84. The stock has a market capitalization of $6.09 billion, a P/E ratio of 29.61 and a beta of 0.89.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TSEM. Vanguard Personalized Indexing Management LLC raised its stake in shares of Tower Semiconductor by 23.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 18,129 shares of the semiconductor company’s stock worth $713,000 after buying an additional 3,417 shares during the period. Sei Investments Co. purchased a new position in Tower Semiconductor during the second quarter valued at approximately $1,148,000. ProShare Advisors LLC boosted its position in shares of Tower Semiconductor by 30.3% in the second quarter. ProShare Advisors LLC now owns 9,459 shares of the semiconductor company’s stock worth $372,000 after purchasing an additional 2,202 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Tower Semiconductor in the second quarter worth $377,000. Finally, Point72 Asset Management L.P. raised its position in shares of Tower Semiconductor by 169.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,022,121 shares of the semiconductor company’s stock valued at $40,180,000 after purchasing an additional 642,121 shares during the period. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Company Profile

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.