Tower Semiconductor (NASDAQ:TSEM) Downgraded to Buy at StockNews.com

StockNews.com downgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a strong-buy rating to a buy rating in a report released on Friday.

A number of other research analysts also recently weighed in on TSEM. Craig Hallum upped their price target on Tower Semiconductor from $40.00 to $44.00 and gave the stock a buy rating in a research note on Friday, May 10th. Benchmark reaffirmed a buy rating and set a $40.00 price target on shares of Tower Semiconductor in a research note on Friday, May 10th. Finally, Susquehanna raised Tower Semiconductor from a neutral rating to a positive rating and upped their price target for the stock from $36.00 to $55.00 in a research note on Friday, May 10th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tower Semiconductor has an average rating of Buy and a consensus price target of $46.33.

Tower Semiconductor Stock Down 0.2 %

Shares of NASDAQ:TSEM opened at $40.60 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.38 and a quick ratio of 4.46. The business’s 50-day moving average is $38.74 and its 200-day moving average is $34.21. Tower Semiconductor has a 1 year low of $21.43 and a 1 year high of $42.49.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $327.24 million for the quarter, compared to the consensus estimate of $325.00 million. Tower Semiconductor had a return on equity of 8.78% and a net margin of 35.27%. On average, research analysts anticipate that Tower Semiconductor will post 1.67 EPS for the current fiscal year.

Institutional Trading of Tower Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC bought a new stake in Tower Semiconductor during the 4th quarter worth approximately $47,000. Quadrant Capital Group LLC increased its holdings in Tower Semiconductor by 34.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock worth $49,000 after purchasing an additional 413 shares in the last quarter. Signaturefd LLC increased its holdings in Tower Semiconductor by 189.8% during the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 1,321 shares in the last quarter. Principal Securities Inc. bought a new stake in Tower Semiconductor during the 4th quarter worth approximately $71,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Tower Semiconductor during the 2nd quarter worth approximately $177,000. 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.