Tower Semiconductor (NASDAQ:TSEM) Shares Down 8% – Time to Sell?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares were down 8% on Friday . The company traded as low as $239.00 and last traded at $248.3760. 370,286 shares were traded during trading, a decline of 85% from the average daily volume of 2,464,224 shares. The stock had previously closed at $269.88.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Susquehanna raised their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Wedbush raised their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Benchmark increased their price objective on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Price Performance

The firm has a 50 day moving average of $248.50 and a 200-day moving average of $177.21. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The company has a market cap of $27.32 billion, a P/E ratio of 113.02 and a beta of 0.87.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $413.63 million during the quarter, compared to analyst estimates of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. On average, equities research analysts predict that Tower Semiconductor Ltd. will post 2.84 EPS for the current year.

Institutional Trading of Tower Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Western Wealth Management LLC bought a new position in shares of Tower Semiconductor during the 1st quarter valued at about $141,000. Empowered Funds LLC purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $754,000. BankChampaign National Association purchased a new stake in shares of Tower Semiconductor in the first quarter worth about $318,000. E20 Capital Ltd purchased a new position in Tower Semiconductor during the 1st quarter valued at approximately $107,708,000. Finally, Janus Henderson Group PLC increased its stake in Tower Semiconductor by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 1,081,175 shares of the semiconductor company’s stock worth $189,723,000 after acquiring an additional 6,458 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.