Tower Semiconductor (NASDAQ:TSEM) Hits New 52-Week High - What's Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.72 and last traded at $54.81, with a volume of 6786 shares changing hands. The stock had previously closed at $53.76.

Analyst Upgrades and Downgrades

TSEM has been the topic of several recent research reports. Benchmark restated a "buy" rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Thursday, November 14th. StockNews.com downgraded shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Craig Hallum increased their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Susquehanna increased their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a "positive" rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $58.33.

Tower Semiconductor Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.89. The company's fifty day moving average is $50.17 and its 200-day moving average is $45.00. The stock has a market cap of $6.00 billion, a PE ratio of 29.28 and a beta of 0.89.

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

Institutional Trading of Tower Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC grew its position in Tower Semiconductor by 7.5% during the third quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company's stock valued at $7,948,000 after buying an additional 12,551 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company's stock valued at $145,961,000 after purchasing an additional 50,000 shares during the period. Summit Partners Public Asset Management LLC grew its position in shares of Tower Semiconductor by 1,146.9% in the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company's stock valued at $66,227,000 after purchasing an additional 1,376,315 shares during the period. Barclays PLC grew its position in shares of Tower Semiconductor by 4,081.2% in the third quarter. Barclays PLC now owns 23,958 shares of the semiconductor company's stock valued at $1,060,000 after purchasing an additional 23,385 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Tower Semiconductor in the third quarter valued at about $11,094,000. Institutional investors and hedge funds own 70.51% of the company's stock.

About Tower Semiconductor

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.