Susquehanna Issues Positive Forecast for Tower Semiconductor (NASDAQ:TSEM) Stock Price

Tower Semiconductor (NASDAQ:TSEM) had its target price upped by Susquehanna from $55.00 to $60.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a positive rating on the semiconductor company’s stock.

TSEM has been the topic of a number of other research reports. StockNews.com lowered Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Tower Semiconductor currently has an average rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Stock Performance

TSEM opened at $44.55 on Thursday. Tower Semiconductor has a 12-month low of $26.62 and a 12-month high of $50.25. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 24.08 and a beta of 0.90. The business has a 50 day moving average of $43.70 and a 200-day moving average of $40.67. The company has a quick ratio of 4.94, a current ratio of 5.82 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $370.50 million during the quarter, compared to analysts’ expectations of $370.30 million. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts expect that Tower Semiconductor will post 1.82 earnings per share for the current year.

Hedge Funds Weigh In On Tower Semiconductor

A number of hedge funds have recently added to or reduced their stakes in TSEM. Swiss National Bank increased its stake in Tower Semiconductor by 1.0% during the 1st quarter. Swiss National Bank now owns 220,171 shares of the semiconductor company’s stock worth $7,209,000 after acquiring an additional 2,189 shares during the period. Russell Investments Group Ltd. increased its stake in Tower Semiconductor by 86.0% during the 1st quarter. Russell Investments Group Ltd. now owns 319,162 shares of the semiconductor company’s stock worth $10,676,000 after acquiring an additional 147,583 shares during the period. ProShare Advisors LLC bought a new position in Tower Semiconductor during the 1st quarter worth $243,000. State Board of Administration of Florida Retirement System bought a new position in Tower Semiconductor during the 1st quarter worth $164,000. Finally, Vanguard Group Inc. increased its stake in shares of Tower Semiconductor by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock valued at $126,808,000 after purchasing an additional 64,679 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

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.