Tower Semiconductor Ltd. (TSEM) Trading 2.2% Higher
Tower Semiconductor Ltd. (NASDAQ:TSEM) shares traded up 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. The stock had previously closed at $12.92.
Several research analysts recently issued reports on the stock. Drexel Hamilton reissued a “buy” rating and issued a $28.00 price target on shares of Tower Semiconductor in a research report on Wednesday, April 13th. TheStreet lowered shares of Tower Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $22.50.
The stock has a market capitalization of $1.12 billion and a P/E ratio of 9.90. The firm has a 50 day moving average of $12.49 and a 200-day moving average of $12.33.
A hedge fund recently bought a new stake 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 filing with the Securities and Exchange Commission (SEC). The institutional investor 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 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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