StockNews.com Upgrades Tower Semiconductor (NASDAQ:TSEM) to “Buy”

StockNews.com upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a buy rating in a research note published on Monday.

Several other equities analysts have also recently commented on the company. TheStreet upgraded Tower Semiconductor from a c+ rating to a b- rating in a research report on Friday, March 8th. Susquehanna started coverage on shares of Tower Semiconductor in a research report on Thursday, February 29th. They issued a neutral rating and a $36.00 price objective on the stock. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $36.33.

Tower Semiconductor Stock Up 1.4 %

TSEM stock opened at $33.45 on Monday. The stock has a 50-day simple moving average of $31.54 and a two-hundred day simple moving average of $28.37. Tower Semiconductor has a twelve month low of $21.43 and a twelve month high of $45.87. The firm has a market capitalization of $3.66 billion, a PE ratio of 7.19 and a beta of 0.94. The company has a quick ratio of 5.15, a current ratio of 6.17 and a debt-to-equity ratio of 0.07.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. The company had revenue of $351.71 million during the quarter, compared to analysts’ expectations of $350.00 million. On average, equities analysts predict that Tower Semiconductor will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the company. Graham Capital Management L.P. lifted its position in Tower Semiconductor by 487.1% in the 3rd quarter. Graham Capital Management L.P. now owns 39,550 shares of the semiconductor company’s stock worth $971,000 after buying an additional 32,813 shares during the last quarter. Wellington Management Group LLP raised its position in Tower Semiconductor by 5,887.4% in the 3rd quarter. Wellington Management Group LLP now owns 499,405 shares of the semiconductor company’s stock worth $12,265,000 after purchasing an additional 491,064 shares during the period. ARK Investment Management LLC lifted its stake in Tower Semiconductor by 29.7% in the third quarter. ARK Investment Management LLC now owns 58,944 shares of the semiconductor company’s stock worth $1,448,000 after purchasing an additional 13,492 shares during the last quarter. Trexquant Investment LP boosted its position in Tower Semiconductor by 289.5% during the third quarter. Trexquant Investment LP now owns 139,629 shares of the semiconductor company’s stock valued at $3,429,000 after buying an additional 103,777 shares during the period. Finally, Phoenix Holdings Ltd. boosted its position in Tower Semiconductor by 7.0% during the third quarter. Phoenix Holdings Ltd. now owns 3,668,022 shares of the semiconductor company’s stock valued at $90,089,000 after buying an additional 239,518 shares during the period. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

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.