Tower Semiconductor Ltd. (TSEM) Sees Unusually-High Trading Volume
Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) saw unusually-high trading volume on Monday . Approximately 250,807 shares changed hands during mid-day trading, a decline of 25% from the previous session’s volume of 333,386 shares.The stock last traded at $13.23 and had previously closed at $13.00.
TSEM has been the subject of a number of recent research reports. Drexel Hamilton reiterated a “buy” rating and issued a $28.00 price objective on shares of Tower Semiconductor in a report on Wednesday, April 13th. Needham & Company LLC reissued a “strong-buy” rating and set a $18.00 target price on shares of Tower Semiconductor in a research report on Monday, May 9th. Finally, TheStreet raised shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Tower Semiconductor has a consensus rating of “Buy” and an average target price of $22.50.
The stock has a market capitalization of $1.10 billion and a PE ratio of 9.69. The firm has a 50-day moving average price of $12.53 and a 200-day moving average price of $12.33.
An institutional investor recently bought a new position in Tower Semiconductor stock. Trexquant Investment LP bought a new stake in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 75,100 shares of the company’s stock, valued at approximately $1,056,000. Trexquant Investment LP owned about 0.10% of Tower Semiconductor at the end of the most recent quarter.
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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