Tower Semiconductor (TSEM) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a sell rating to a hold rating in a research report released on Friday.

Other research analysts have also issued reports about the stock. Needham & Company LLC reissued a buy rating and issued a $28.00 target price on shares of Tower Semiconductor in a research note on Monday, October 22nd. Jefferies Financial Group started coverage on shares of Tower Semiconductor in a research note on Tuesday, October 9th. They issued a buy rating and a $30.00 target price on the stock. Standpoint Research raised shares of Tower Semiconductor from a hold rating to a buy rating and set a $18.00 target price on the stock in a research note on Tuesday, August 28th. Craig Hallum set a $29.00 target price on shares of Tower Semiconductor and gave the stock a buy rating in a research note on Thursday, August 23rd. Finally, Loop Capital decreased their target price on shares of Tower Semiconductor to $28.00 and set a buy rating on the stock in a research note on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $26.50.

TSEM stock traded down $0.01 during trading on Friday, hitting $15.74. The stock had a trading volume of 680,664 shares, compared to its average volume of 642,980. The company has a current ratio of 3.93, a quick ratio of 3.27 and a debt-to-equity ratio of 0.21. Tower Semiconductor has a twelve month low of $13.78 and a twelve month high of $36.08. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.09 and a beta of 1.52.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Monday, October 29th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Tower Semiconductor had a return on equity of 15.82% and a net margin of 18.43%. The firm had revenue of $322.60 million during the quarter, compared to analyst estimates of $335.05 million. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. As a group, equities analysts forecast that Tower Semiconductor will post 1.45 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSEM. Epoch Investment Partners Inc. purchased a new position in Tower Semiconductor in the 3rd quarter worth approximately $31,850,000. Clearbridge Investments LLC raised its position in shares of Tower Semiconductor by 948,247.6% during the 3rd quarter. Clearbridge Investments LLC now owns 995,765 shares of the semiconductor company’s stock valued at $21,668,000 after buying an additional 995,660 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Tower Semiconductor by 132,392.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 483,598 shares of the semiconductor company’s stock valued at $10,644,000 after buying an additional 483,233 shares during the period. FMR LLC raised its position in shares of Tower Semiconductor by 197.1% during the 3rd quarter. FMR LLC now owns 529,400 shares of the semiconductor company’s stock valued at $11,520,000 after buying an additional 351,200 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Tower Semiconductor by 23.4% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,389,886 shares of the semiconductor company’s stock valued at $30,244,000 after buying an additional 263,833 shares during the period. 47.47% of the stock is currently owned by institutional investors and hedge funds.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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