By otakuyassine3@gmail.com 
Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Free Report) shares traded down 15.9% on Monday . The company traded as low as $46.10 and last traded at $46.03. 925,000 shares were traded during trading, an increase of 46% from the average session volume of 633,497 shares. The stock had previously closed at $54.74.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Craig Hallum boosted their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Susquehanna upped their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.
View Our Latest Research Report on TSEM
Tower Semiconductor Price Performance
The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.19 billion, a PE ratio of 25.33 and a beta of 0.89. The firm has a 50 day moving average price of $50.52 and a 200 day moving average price of $45.28.
Tower Semiconductor (NASDAQ:TSEM – Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same quarter in the prior year, the business posted $0.47 EPS. Tower Semiconductor’s revenue for the quarter was up 3.4% compared to the same quarter last year. Research analysts anticipate that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current year.
Institutional Investors Weigh In On Tower Semiconductor
Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its holdings in shares of Tower Semiconductor by 203.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after purchasing an additional 2,083,262 shares during the last quarter. Summit Partners Public Asset Management LLC boosted its holdings in shares of Tower Semiconductor by 1,146.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after purchasing an additional 1,376,315 shares during the last quarter. Scopia Capital Management LP bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $13,926,000. Assenagon Asset Management S.A. bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $11,094,000. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Tower Semiconductor by 27.5% during the 4th quarter. Y.D. More Investments Ltd now owns 866,539 shares of the semiconductor company’s stock valued at $44,883,000 after purchasing an additional 187,103 shares during the last quarter. Hedge funds and other institutional investors 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.
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