Tower Semiconductor Ltd. (TSEM) Trading Down 4.6%
Tower Semiconductor Ltd. (NASDAQ:TSEM) shares were down 4.6% during trading on Tuesday . The stock traded as low as $12.72 and last traded at $12.78, with a volume of 1,232,623 shares. The stock had previously closed at $13.40.
Several research analysts recently commented on TSEM shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Tower Semiconductor in a report on Saturday, May 7th. TheStreet raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $18.00 price objective on shares of Tower Semiconductor in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. Tower Semiconductor presently has an average rating of “Buy” and a consensus price target of $22.50.
The company’s 50-day moving average is $12.52 and its 200 day moving average is $12.33. The stock has a market capitalization of $1.07 billion and a PE ratio of 9.46.
A hedge fund recently bought a new stake in Tower Semiconductor stock. Trexquant Investment LP acquired a new stake in shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 75,100 shares of the company’s stock, valued at approximately $1,056,000. Trexquant Investment LP owned 0.10% of Tower Semiconductor at the end of the most recent reporting period.
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. It manufactures semiconductors for its customers primarily based on third-party designs.
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