Tower Semiconductor Ltd. (NASDAQ:TSEM) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $290.6667.

Several analysts have recently weighed in on TSEM shares. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of Tower Semiconductor from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 18th. Wedbush raised their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Susquehanna lifted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus assumed coverage on Tower Semiconductor in a research note on Tuesday, September 1st. They issued a “buy” rating and a $270.00 price objective on the stock.

Tower Semiconductor Stock Down 1.5%

Shares of TSEM stock opened at $216.57 on Thursday. The stock has a market cap of $24.35 billion, a P/E ratio of 85.60 and a beta of 0.88. Tower Semiconductor has a one year low of $64.59 and a one year high of $319.94. The stock has a fifty day moving average price of $228.03 and a 200 day moving average price of $216.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.91 and a quick ratio of 4.31.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. Tower Semiconductor had a net margin of 16.94% and a return on equity of 9.83%. The firm had revenue of $460.08 million for the quarter, compared to the consensus estimate of $454.68 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The business’s revenue was up 23.7% compared to the same quarter last year. Analysts predict that Tower Semiconductor will post 3.58 earnings per share for the current year.

Insider Activity at Tower Semiconductor

In related news, CEO Russell Ellwanger sold 104,226 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $248.34, for a total value of $25,883,484.84. Following the sale, the chief executive officer owned 526,788 shares of the company’s stock, valued at $130,822,531.92. The trade was a 16.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Trading of Tower Semiconductor

A number of large investors have recently bought and sold shares of TSEM. Swiss National Bank lifted its position in shares of Tower Semiconductor by 86.0% during the first quarter. Swiss National Bank now owns 414,850 shares of the semiconductor company’s stock worth $70,625,000 after purchasing an additional 191,839 shares in the last quarter. Pier Capital LLC grew its stake in shares of Tower Semiconductor by 31.4% during the fourth quarter. Pier Capital LLC now owns 67,520 shares of the semiconductor company’s stock valued at $7,928,000 after purchasing an additional 16,116 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Tower Semiconductor in the first quarter valued at approximately $754,000. Altshuler Shaham Ltd increased its holdings in shares of Tower Semiconductor by 1,175.6% in the first quarter. Altshuler Shaham Ltd now owns 340,108 shares of the semiconductor company’s stock valued at $58,025,000 after purchasing an additional 313,445 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Tower Semiconductor by 4.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 118,406 shares of the semiconductor company’s stock valued at $30,378,000 after buying an additional 4,965 shares during the period. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd. (NASDAQ:TSEM) is a specialty semiconductor foundry that manufactures integrated circuits for fabless chip companies, integrated device manufacturers and original equipment manufacturers. The company focuses on analog and mixed-signal technologies rather than high-volume digital logic, providing process development, wafer manufacturing, design enablement and other foundry services.

Its technology portfolio includes radio-frequency and high-performance analog circuits, power management, CMOS image sensors, medical and industrial sensors, silicon photonics, microelectromechanical systems (MEMS), and automotive and industrial semiconductor solutions.