Brokerages Set Tower Semiconductor Ltd. (NASDAQ:TSEM) Target Price at $58.75

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) have been given a consensus rating of "Buy" by the four analysts that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $58.75.

TSEM has been the topic of several analyst reports. Wedbush restated an "outperform" rating and set a $60.00 price target on shares of Tower Semiconductor in a research note on Monday. Benchmark restated a "buy" rating and set a $55.00 target price on shares of Tower Semiconductor in a report on Thursday, November 14th. StockNews.com lowered Tower Semiconductor from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Susquehanna raised their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a research note on Thursday, November 14th. Finally, Craig Hallum upped their target price on Tower Semiconductor from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th.

Tower Semiconductor Stock Down 1.0 %

Shares of Tower Semiconductor stock traded down $0.51 on Monday, hitting $49.71. 521,994 shares of the company traded hands, compared to its average volume of 786,313. Tower Semiconductor has a 12-month low of $28.37 and a 12-month high of $55.31. The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.51 billion, a PE ratio of 26.87 and a beta of 0.88. The company has a 50-day moving average price of $50.68 and a 200 day moving average price of $45.58.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million during the quarter, compared to analyst estimates of $370.30 million. During the same period in the previous year, the company earned $0.47 EPS. The firm's revenue was up 3.4% on a year-over-year basis. Sell-side analysts predict that Tower Semiconductor will post 1.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TSEM. Cornerstone Investment Partners LLC acquired a new stake in shares of Tower Semiconductor in the fourth quarter worth $203,000. Oppenheimer & Co. Inc. grew its position in Tower Semiconductor by 94.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 19,900 shares of the semiconductor company's stock worth $1,025,000 after purchasing an additional 9,650 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Tower Semiconductor by 34.6% during the 4th quarter. Truist Financial Corp now owns 17,330 shares of the semiconductor company's stock worth $893,000 after purchasing an additional 4,455 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Tower Semiconductor by 292.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 29,230 shares of the semiconductor company's stock valued at $1,506,000 after buying an additional 21,773 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Tower Semiconductor by 12.7% in the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock valued at $105,000 after purchasing an additional 230 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

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.