Tower Semiconductor (NASDAQ:TSEM) Given Buy Rating at Benchmark

Benchmark restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report released on Tuesday morning,Benzinga reports. Benchmark currently has a $60.00 target price on the semiconductor company’s stock.

TSEM has been the topic of several other reports. Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Monday, February 3rd. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Susquehanna lifted their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Craig Hallum boosted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Tower Semiconductor Stock Down 2.5 %

TSEM stock opened at $45.78 on Tuesday. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 52 week low of $28.37 and a 52 week high of $55.31. The company has a market cap of $5.07 billion, a PE ratio of 24.75 and a beta of 0.88. The business has a 50-day simple moving average of $50.74 and a 200 day simple moving average of $45.75.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $370.30 million. During the same period in the prior year, the company earned $0.47 EPS. Tower Semiconductor’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Tower Semiconductor will post 1.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Tower Semiconductor by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company’s stock valued at $205,954,000 after buying an additional 42,969 shares during the period. Fox Run Management L.L.C. boosted its holdings in Tower Semiconductor by 50.3% in the fourth quarter. Fox Run Management L.L.C. now owns 15,448 shares of the semiconductor company’s stock worth $796,000 after acquiring an additional 5,167 shares in the last quarter. American Century Companies Inc. acquired a new stake in Tower Semiconductor in the fourth quarter valued at approximately $20,015,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Tower Semiconductor by 2,421.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,303 shares of the semiconductor company’s stock valued at $479,000 after acquiring an additional 8,934 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Tower Semiconductor by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company’s stock worth $53,456,000 after purchasing an additional 25,247 shares during the period. Institutional investors and hedge funds own 70.51% of the company’s stock.

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.