Benchmark Reaffirms Buy Rating for Tower Semiconductor (NASDAQ:TSEM)

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $60.00 price objective on the semiconductor company’s stock. Benchmark’s price target points to a potential upside of 31.78% from the company’s current price.

Several other analysts have also recently commented on TSEM. Susquehanna increased their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Craig Hallum raised their price objective on shares of Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Stock Down 0.5 %

Shares of TSEM opened at $45.53 on Tuesday. Tower Semiconductor has a 52 week low of $28.37 and a 52 week high of $55.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The firm has a market capitalization of $5.05 billion, a P/E ratio of 24.61 and a beta of 0.88. The company has a 50-day simple moving average of $50.68 and a 200-day simple moving average of $45.77.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.12. The firm had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 earnings per share. On average, equities research analysts expect that Tower Semiconductor will post 1.81 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new position in Tower Semiconductor in the 3rd quarter valued at about $27,000. R Squared Ltd acquired a new stake in shares of Tower Semiconductor during the 4th quarter worth approximately $61,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC lifted its stake in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 431 shares during the last quarter. Finally, Crews Bank & Trust bought a new position in Tower Semiconductor in the 4th quarter valued at approximately $134,000. 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.