Tower Semiconductor (NASDAQ:TSEM) Reaches New 52-Week High - Time to Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $51.31 and last traded at $50.95, with a volume of 236527 shares trading hands. The stock had previously closed at $49.97.

Analysts Set New Price Targets

Several research analysts recently issued reports on TSEM shares. Benchmark reissued a "buy" rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research note on Thursday, November 14th. Susquehanna increased their price target on Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a research report on Thursday, November 14th. Craig Hallum lifted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Finally, StockNews.com cut shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.33.

Tower Semiconductor Price Performance

The firm has a market capitalization of $5.79 billion, a PE ratio of 28.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.89 and a current ratio of 5.82. The stock has a fifty day moving average price of $46.13 and a 200-day moving average price of $42.54.

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

Institutional Investors Weigh In On Tower Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Tower Semiconductor by 4.6% in the third quarter. Tidal Investments LLC now owns 71,678 shares of the semiconductor company's stock worth $3,172,000 after acquiring an additional 3,168 shares in the last quarter. Barclays PLC boosted its stake in Tower Semiconductor by 4,081.2% in the 3rd quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock worth $1,060,000 after purchasing an additional 23,385 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tower Semiconductor by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 93,847 shares of the semiconductor company's stock worth $4,154,000 after purchasing an additional 823 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its position in Tower Semiconductor by 140.0% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 24,000 shares of the semiconductor company's stock worth $1,062,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Tower Semiconductor during the 3rd quarter valued at approximately $1,979,000. Hedge funds and other institutional investors own 70.51% of the company's stock.

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.