Tower Semiconductor (TSEM) Rating Lowered to Sell at BidaskClub

Tower Semiconductor (NASDAQ:TSEM) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

TSEM has been the topic of a number of other reports. Credit Suisse Group initiated coverage on shares of Tower Semiconductor in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $36.00 price target on the stock. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Drexel Hamilton raised their price target on shares of Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Needham & Company LLC raised their price target on shares of Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 30th. Finally, Craig Hallum reissued a “buy” rating and issued a $39.00 target price (up from $32.00) on shares of Tower Semiconductor in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $43.75.

Tower Semiconductor (NASDAQ TSEM) opened at $33.78 on Friday. The firm has a market cap of $3,325.91, a PE ratio of 17.15, a P/E/G ratio of 0.92 and a beta of 0.96. Tower Semiconductor has a 12 month low of $19.97 and a 12 month high of $36.69. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.34.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.07. Tower Semiconductor had a net margin of 14.53% and a return on equity of 27.82%. equities analysts anticipate that Tower Semiconductor will post 2.02 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its stake in Tower Semiconductor by 9.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock worth $246,000 after purchasing an additional 876 shares in the last quarter. First Allied Advisory Services Inc. lifted its stake in Tower Semiconductor by 2.1% in the 2nd quarter. First Allied Advisory Services Inc. now owns 44,877 shares of the semiconductor company’s stock worth $1,068,000 after purchasing an additional 905 shares in the last quarter. Renaissance Group LLC lifted its stake in Tower Semiconductor by 7.8% in the 3rd quarter. Renaissance Group LLC now owns 20,701 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 1,506 shares in the last quarter. Tanaka Capital Management Inc. lifted its stake in Tower Semiconductor by 1.4% in the 2nd quarter. Tanaka Capital Management Inc. now owns 178,186 shares of the semiconductor company’s stock worth $4,250,000 after purchasing an additional 2,453 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Tower Semiconductor by 17.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 20,500 shares of the semiconductor company’s stock worth $630,000 after purchasing an additional 3,100 shares in the last quarter. 43.84% of the stock is currently owned by institutional investors and hedge funds.

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About Tower Semiconductor

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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