Tower Semiconductor Ltd. (TSEM) Sees Large Volume Increase
Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) saw strong trading volume on Monday . 250,807 shares traded 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.
Several analysts recently issued reports on TSEM shares. TheStreet upgraded shares of Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Drexel Hamilton restated a “buy” rating on shares of Tower Semiconductor in a research report on Thursday, June 23rd. Finally, Needham & Company LLC restated a “strong-buy” rating and set a $18.00 target price 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 assigned a buy rating and one has issued a strong buy rating to the company. Tower Semiconductor presently has a consensus rating of “Buy” and an average price target of $22.50.
The firm’s 50-day moving average is $12.52 and its 200 day moving average is $12.33. The stock has a market cap of $1.13 billion and a price-to-earnings ratio of 10.00.
An institutional investor recently bought a new position in Tower Semiconductor stock. Trexquant Investment LP purchased a new stake in shares of 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 purchased 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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