Tower Semiconductor (NASDAQ:TSEM) Hits New 12-Month High at $44.29

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $44.29 and last traded at $43.87, with a volume of 326003 shares changing hands. The stock had previously closed at $42.89.

Analyst Ratings Changes

A number of brokerages recently issued reports on TSEM. Benchmark restated a "buy" rating and set a $40.00 target price on shares of Tower Semiconductor in a research report on Friday, May 10th. Susquehanna raised Tower Semiconductor from a "neutral" rating to a "positive" rating and lifted their price objective for the company from $36.00 to $55.00 in a research report on Friday, May 10th. StockNews.com downgraded Tower Semiconductor from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 19th. Finally, Craig Hallum raised their price target on Tower Semiconductor from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Friday, May 10th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $46.33.

Tower Semiconductor Price Performance

The company has a market capitalization of $4.77 billion, a PE ratio of 9.89 and a beta of 0.90. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The company's 50 day moving average price is $40.19 and its 200-day moving average price is $36.34.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last issued its earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The firm had revenue of $351.18 million for the quarter, compared to analysts' expectations of $350.00 million. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. On average, sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Tower Semiconductor by 1.7% in the first quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company's stock worth $126,808,000 after buying an additional 64,679 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Tower Semiconductor by 3.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,763,097 shares of the semiconductor company's stock worth $147,927,000 after buying an additional 123,200 shares during the period. Victory Capital Management Inc. increased its stake in Tower Semiconductor by 83.4% during the 4th quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company's stock worth $96,456,000 after buying an additional 1,437,535 shares during the period. Jennison Associates LLC lifted its holdings in Tower Semiconductor by 28.1% in the 1st quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company's stock worth $88,652,000 after buying an additional 580,610 shares in the last quarter. Finally, Meitav Investment House Ltd. boosted its position in Tower Semiconductor by 25.6% in the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company's stock valued at $95,686,000 after buying an additional 495,380 shares during the last quarter. 70.51% of the stock is owned by institutional investors and hedge funds.

Tower Semiconductor Company Profile

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.