Tower Semiconductor (NASDAQ:TSEM) Sees Unusually-High Trading Volume – Here’s Why

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw unusually-high trading volume on Thursday . Approximately 2,206,360 shares changed hands during mid-day trading, an increase of 29% from the previous session’s volume of 1,704,018 shares.The stock last traded at $124.4960 and had previously closed at $121.28.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TSEM shares. Wedbush downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research note on Wednesday, December 31st. Barclays boosted their price objective on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Benchmark reaffirmed a “buy” rating and set a $150.00 target price (up from $120.00) on shares of Tower Semiconductor in a research report on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Finally, Susquehanna increased their price target on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Hold” and an average target price of $126.75.

Tower Semiconductor Stock Up 7.7%

The firm has a fifty day moving average of $123.64 and a two-hundred day moving average of $88.53. The company has a quick ratio of 5.54, a current ratio of 6.61 and a debt-to-equity ratio of 0.05.

Institutional Trading of Tower Semiconductor

A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi grew its holdings in Tower Semiconductor by 86.8% during the 1st quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after buying an additional 10,042 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Tower Semiconductor by 4.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after acquiring an additional 3,954 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Tower Semiconductor during the 2nd quarter worth approximately $228,000. Tectonic Advisors LLC lifted its stake in Tower Semiconductor by 17.2% in the 2nd quarter. Tectonic Advisors LLC now owns 26,396 shares of the semiconductor company’s stock worth $1,144,000 after purchasing an additional 3,883 shares in the last quarter. Finally, Callan Family Office LLC boosted its holdings in Tower Semiconductor by 27.9% in the 2nd quarter. Callan Family Office LLC now owns 8,013 shares of the semiconductor company’s stock valued at $347,000 after purchasing an additional 1,749 shares during the period. Hedge funds and other institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.