Tower Semiconductor (NASDAQ:TSEM) Stock Rating Upgraded by StockNews.com

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

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

Tower Semiconductor Trading Up 2.4 %

Shares of NASDAQ TSEM opened at $41.72 on Thursday. The business’s 50 day moving average is $37.97 and its two-hundred day moving average is $33.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.38 and a quick ratio of 4.46. Tower Semiconductor has a 1-year low of $21.43 and a 1-year high of $42.10. The stock has a market capitalization of $4.46 billion, a P/E ratio of 9.24 and a beta of 0.90.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Tower Semiconductor in the second quarter worth approximately $177,000. First Hawaiian Bank bought a new position in Tower Semiconductor in the second quarter worth approximately $770,000. Boston Partners grew its stake in Tower Semiconductor by 453.9% in the first quarter. Boston Partners now owns 328,843 shares of the semiconductor company’s stock worth $10,995,000 after purchasing an additional 269,476 shares in the last quarter. Tidal Investments LLC bought a new position in Tower Semiconductor in the first quarter worth approximately $2,755,000. Finally, Janus Henderson Group PLC grew its stake in Tower Semiconductor by 34.4% in the first quarter. Janus Henderson Group PLC now owns 789,142 shares of the semiconductor company’s stock worth $26,397,000 after purchasing an additional 201,944 shares in the last quarter. Institutional investors 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.