Tower Semiconductor (NASDAQ:TSEM) Given “Outperform” Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a report released on Monday morning, Marketbeat Ratings reports. Wedbush currently has a $60.00 target price on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on the company. Craig Hallum increased their price target on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Susquehanna lifted their price objective 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.75.

Tower Semiconductor Trading Up 1.0 %

Tower Semiconductor stock opened at $49.40 on Monday. Tower Semiconductor has a 1 year low of $28.11 and a 1 year high of $55.31. The firm’s 50 day moving average price is $50.56 and its 200-day moving average price is $45.42. 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 stock has a market cap of $5.47 billion, a P/E ratio of 26.70 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating 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 analysts’ expectations of $370.30 million. During the same quarter last year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts predict that Tower Semiconductor will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Tower Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Tower Semiconductor by 12.7% during the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock worth $105,000 after purchasing an additional 230 shares during the last quarter. Truist Financial Corp grew its position in shares of Tower Semiconductor by 3.8% in the 2nd quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock worth $292,000 after buying an additional 273 shares during the last quarter. Signaturefd LLC raised its stake in shares of Tower Semiconductor by 21.1% during the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares in the last quarter. Van ECK Associates Corp grew its holdings in Tower Semiconductor by 1.6% in the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock worth $1,484,000 after purchasing an additional 522 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in shares of Tower Semiconductor during the third quarter worth $27,000. 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.