Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price rose 2.2% during mid-day trading on Monday . The stock traded as high as $13.31 and last traded at $13.20, with a volume of 283,416 shares trading hands. The stock had previously closed at $12.92.

TSEM has been the topic of several analyst reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Tower Semiconductor in a research report on Saturday, May 7th. TheStreet raised Tower Semiconductor from a “sell” rating to a “hold” rating in a research 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 research report on Monday, May 9th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. Tower Semiconductor presently has an average rating of “Buy” and a consensus price target of $22.50.

The firm’s 50-day moving average is $12.51 and its 200-day moving average is $12.33. The stock has a market cap of $1.14 billion and a PE ratio of 10.04.

A hedge fund recently bought a new stake 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 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.