Benchmark Reiterates "Buy" Rating for Tower Semiconductor (NASDAQ:TSEM)

Benchmark restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM - Free Report) in a research report released on Tuesday,Benzinga reports. Benchmark currently has a $60.00 price target on the semiconductor company's stock.

Several other equities research analysts also recently weighed in on the company. Wedbush reissued an "outperform" rating and issued a $60.00 price objective on shares of Tower Semiconductor in a report on Monday, February 3rd. Susquehanna increased their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a "positive" rating in a research note on Thursday, November 14th. StockNews.com downgraded shares of Tower Semiconductor from a "buy" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Craig Hallum upped their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Tower Semiconductor currently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Stock Down 2.5 %

Shares of NASDAQ TSEM traded down $1.18 during mid-day trading on Tuesday, reaching $45.78. The company had a trading volume of 1,221,954 shares, compared to its average volume of 865,373. The firm has a 50 day simple moving average of $50.74 and a two-hundred day simple moving average of $45.75. Tower Semiconductor has a 52-week low of $28.37 and a 52-week high of $55.31. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.07 billion, a P/E ratio of 24.75 and a beta of 0.88.

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 (EPS) for the quarter, topping 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 company had revenue of $370.50 million for the quarter, compared to analyst estimates of $370.30 million. During the same quarter last year, the company posted $0.47 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. Sell-side analysts predict that Tower Semiconductor will post 1.81 earnings per share for the current year.

Institutional Trading of Tower Semiconductor

Several hedge funds have recently made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in Tower Semiconductor during the third quarter worth about $27,000. R Squared Ltd acquired a new position in Tower Semiconductor during the 4th quarter worth approximately $61,000. Blue Trust Inc. raised its stake in shares of Tower Semiconductor by 319.3% during the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company's stock worth $80,000 after buying an additional 1,376 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company's stock valued at $109,000 after buying an additional 431 shares during the period. Finally, Crews Bank & Trust purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $134,000. Institutional investors and hedge funds 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.