Tower Semiconductor (NASDAQ:TSEM) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a report issued on Monday morning, Benzinga reports. They currently have a $55.00 target price on the semiconductor company’s stock.

Separately, StockNews.com cut shares of Tower Semiconductor from a strong-buy rating to a buy rating in a research report on Friday, July 19th. Four 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 price target of $51.33.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $42.39 on Monday. The stock has a 50 day moving average of $40.70 and a 200 day moving average of $36.96. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a fifty-two week low of $21.43 and a fifty-two week high of $44.58.

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 analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $351.18 million during the quarter, compared to analysts’ expectations of $350.00 million. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. As a group, sell-side analysts forecast that Tower Semiconductor will post 1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Hedge funds have recently bought and sold shares of the company. Theleme Partners LLP acquired a new position in shares of Tower Semiconductor in the fourth quarter worth $67,717,000. Norges Bank purchased a new position in Tower Semiconductor in the fourth quarter valued at approximately $45,303,000. Shannon River Fund Management LLC acquired a new stake in Tower Semiconductor during the fourth quarter worth approximately $38,538,000. William Blair Investment Management LLC purchased a new stake in shares of Tower Semiconductor during the 1st quarter worth approximately $34,911,000. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Tower Semiconductor by 9,622.0% in the 2nd quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company’s stock valued at $35,952,000 after buying an additional 902,546 shares in the last quarter. 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.