Tower Semiconductor (NASDAQ:TSEM) Sets New 1-Year High - Time to Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $46.54 and last traded at $46.54, with a volume of 1851 shares changing hands. The stock had previously closed at $45.88.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com downgraded Tower Semiconductor from a "strong-buy" rating to a "buy" rating in a report on Friday, July 19th. Benchmark reissued a "buy" rating and issued a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $51.33.

Tower Semiconductor Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. The company has a 50-day moving average of $43.29 and a two-hundred day moving average of $40.26. The company has a market capitalization of $5.17 billion, a PE ratio of 10.54 and a beta of 0.90.

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSEM. Truist Financial Corp boosted its stake in shares of Tower Semiconductor by 3.8% in the second quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company's stock worth $292,000 after acquiring an additional 273 shares during the period. Signaturefd LLC boosted its stake in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock worth $109,000 after purchasing an additional 431 shares during the period. TD Asset Management Inc grew its holdings in Tower Semiconductor by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company's stock valued at $623,000 after buying an additional 506 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Tower Semiconductor by 1.6% during the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company's stock valued at $1,484,000 after buying an additional 522 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $27,000. 70.51% of the stock is owned by hedge funds and other 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.