Tower Semiconductor's (TSEM) "Outperform" Rating Reiterated at Wedbush

Tower Semiconductor (NASDAQ:TSEM - Get Free Report)'s stock had its "outperform" rating reaffirmed by Wedbush in a research note issued to investors on Tuesday,RTT News reports. They currently have a $60.00 price target on the semiconductor company's stock. Wedbush's price objective would indicate a potential upside of 31.06% from the company's current price.

A number of other brokerages also recently weighed in on TSEM. Benchmark reaffirmed a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday. StockNews.com downgraded Tower Semiconductor from a "buy" rating to a "hold" rating in a research note on Tuesday, November 12th. Susquehanna lifted their price objective 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. Finally, Craig Hallum increased their price objective 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. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.00.

Tower Semiconductor Price Performance

TSEM traded down $1.18 during trading on Tuesday, reaching $45.78. The stock had a trading volume of 1,221,954 shares, compared to its average volume of 865,373. Tower Semiconductor has a one year low of $28.37 and a one year high of $55.31. 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 business has a 50-day moving average of $50.74 and a 200-day moving average of $45.75. The stock has a market cap of $5.07 billion, a PE ratio of 24.75 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.12. The company had revenue of $370.50 million during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.47 EPS. As a group, equities research analysts anticipate that Tower Semiconductor will post 1.81 EPS for the current fiscal year.

Institutional Trading of Tower Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Tower Semiconductor by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company's stock worth $205,954,000 after buying an additional 42,969 shares in the last quarter. Fox Run Management L.L.C. increased its stake in shares of Tower Semiconductor by 50.3% in the fourth quarter. Fox Run Management L.L.C. now owns 15,448 shares of the semiconductor company's stock worth $796,000 after acquiring an additional 5,167 shares during the period. American Century Companies Inc. purchased a new position in Tower Semiconductor during the fourth quarter valued at approximately $20,015,000. Harvest Fund Management Co. Ltd raised its position in shares of Tower Semiconductor by 2,421.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,303 shares of the semiconductor company's stock worth $479,000 after acquiring an additional 8,934 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Tower Semiconductor by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company's stock worth $53,456,000 after buying an additional 25,247 shares during the period. Institutional investors 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.