Tower Semiconductor (NASDAQ:TSEM) Reaches New 12-Month High – Still a Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price reached a new 52-week high on Wednesday . The company traded as high as $45.23 and last traded at $45.18, with a volume of 69455 shares changing hands. The stock had previously closed at $44.68.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. StockNews.com downgraded Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $51.33.

Tower Semiconductor Stock Up 1.6 %

The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.03 billion, a PE ratio of 10.26 and a beta of 0.90. The stock’s fifty day simple moving average is $41.38 and its 200-day simple moving average is $38.39.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. Tower Semiconductor had a net margin of 35.58% and a return on equity of 8.33%. The business had revenue of $351.18 million for the quarter, compared to analysts’ expectations of $350.00 million. As a group, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors have recently modified their holdings of the business. USA Financial Formulas bought a new position in Tower Semiconductor in the 3rd quarter valued at $38,000. State Board of Administration of Florida Retirement System bought a new position in Tower Semiconductor during the first quarter valued at about $164,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Tower Semiconductor during the second quarter worth about $177,000. Scientech Research LLC bought a new stake in Tower Semiconductor in the second quarter worth about $200,000. Finally, ProShare Advisors LLC purchased a new position in Tower Semiconductor in the first quarter valued at about $243,000. 70.51% of the stock is owned by institutional investors.

About Tower Semiconductor

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.