Tower Semiconductor (NASDAQ:TSEM) Stock Price Expected to Rise, Susquehanna Analyst Says

Tower Semiconductor (NASDAQ:TSEM) had its price target lifted by Susquehanna from $55.00 to $60.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a positive rating on the semiconductor company’s stock.

A number of other analysts have also recently commented on TSEM. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor currently has an average rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Down 3.8 %

Shares of Tower Semiconductor stock opened at $44.55 on Thursday. Tower Semiconductor has a 12 month low of $26.62 and a 12 month high of $50.25. The business has a fifty day simple moving average of $43.70 and a 200 day simple moving average of $40.67. The company has a quick ratio of 4.94, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.94 billion, a PE ratio of 24.08 and a beta of 0.90.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. The business had revenue of $370.50 million for the quarter, compared to the consensus estimate of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. Tower Semiconductor’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. Research analysts predict that Tower Semiconductor will post 1.82 EPS for the current year.

Hedge Funds Weigh In On Tower Semiconductor

A number of large investors have recently bought and sold shares of the company. Truist Financial Corp boosted its holdings in Tower Semiconductor by 3.8% during the second quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 273 shares during the last quarter. Signaturefd LLC grew its holdings in shares of 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 acquiring an additional 431 shares in the last quarter. TD Asset Management Inc increased its position in shares of Tower Semiconductor by 3.2% in the second quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 506 shares during the last quarter. Van ECK Associates Corp raised its holdings in Tower Semiconductor by 1.6% during the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock worth $1,484,000 after acquiring an additional 522 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Tower Semiconductor during the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

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.