BidaskClub Downgrades Tower Semiconductor (TSEM) to Hold

Tower Semiconductor (NASDAQ:TSEM) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other brokerages also recently issued reports on TSEM. Drexel Hamilton reaffirmed a “buy” rating and issued a $46.00 price target on shares of Tower Semiconductor in a report on Wednesday, November 29th. Needham & Company LLC upped their price target on shares of Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a report on Thursday, November 30th. Credit Suisse Group upped their price target on shares of Tower Semiconductor from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 15th. Craig Hallum reaffirmed a “buy” rating and issued a $39.00 price target (up previously from $32.00) on shares of Tower Semiconductor in a report on Wednesday, November 8th. Finally, ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $43.75.

Shares of Tower Semiconductor (NASDAQ:TSEM) opened at $34.27 on Tuesday. Tower Semiconductor has a fifty-two week low of $17.75 and a fifty-two week high of $36.69. The stock has a market cap of $3,320.00, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.15 and a beta of 0.97. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.44 and a quick ratio of 2.85.

Several institutional investors and hedge funds have recently made changes to their positions in TSEM. Parametric Portfolio Associates LLC purchased a new position in shares of Tower Semiconductor during the first quarter valued at approximately $217,000. Geode Capital Management LLC lifted its stake in shares of Tower Semiconductor by 69.4% during the first quarter. Geode Capital Management LLC now owns 75,044 shares of the semiconductor company’s stock valued at $1,728,000 after buying an additional 30,753 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Tower Semiconductor by 70.5% during the first quarter. Dimensional Fund Advisors LP now owns 232,830 shares of the semiconductor company’s stock valued at $5,367,000 after buying an additional 96,283 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Tower Semiconductor during the second quarter valued at approximately $1,139,000. Finally, Rice Hall James & Associates LLC lifted its stake in shares of Tower Semiconductor by 14.4% during the second quarter. Rice Hall James & Associates LLC now owns 1,039,609 shares of the semiconductor company’s stock valued at $24,795,000 after buying an additional 130,717 shares during the period. 42.33% of the stock is currently owned by institutional investors and hedge funds.

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About Tower Semiconductor

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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