Tower Semiconductor Ltd. (TSEM) Shares Down 4.6%
Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price traded down 4.6% during trading on Tuesday . The company 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.
A number of equities analysts have recently commented on the company. TheStreet lowered Tower Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Drexel Hamilton reiterated a “buy” rating on shares of Tower Semiconductor in a research note on Thursday, June 23rd. Finally, Needham & Company LLC reiterated a “strong-buy” rating and issued a $18.00 price objective on shares of Tower Semiconductor in a research note on Monday, May 9th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.50.
The firm has a market cap of $1.09 billion and a price-to-earnings ratio of 9.63. The company has a 50-day moving average price of $12.52 and a 200-day moving average price of $12.34.
An institutional investor recently bought a new position in Tower Semiconductor stock. Trexquant Investment LP bought a new position in Tower Semiconductor Ltd. (NASDAQ:TSEM) during the fourth quarter, according to its most recent filing with the SEC. 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 as of its most recent SEC filing.
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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