Tower Semiconductor (NASDAQ:TSEM) Shares Gap Up – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM) gapped up before the market opened on Wednesday . The stock had previously closed at $43.10, but opened at $46.78. Tower Semiconductor shares last traded at $49.43, with a volume of 299,295 shares.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TSEM shares. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday. Craig Hallum upped their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna upped their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Price Performance

The company has a market cap of $5.13 billion, a P/E ratio of 10.45 and a beta of 0.90. The company has a fifty day simple moving average of $43.52 and a 200-day simple moving average of $40.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TSEM. Transcendent Capital Group LLC bought a new position in shares of Tower Semiconductor in the third quarter valued at $27,000. USA Financial Formulas bought a new position in shares of Tower Semiconductor in the third quarter valued at $38,000. Blue Trust Inc. increased its holdings in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,376 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Tower Semiconductor by 21.1% in the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Tower Semiconductor in the first quarter valued at $164,000. 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.