Tower Semiconductor (NASDAQ:TSEM) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Tower Semiconductor (NASDAQ:TSEM) from a buy rating to a hold rating in a research note published on Tuesday morning.

Separately, Benchmark restated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Monday, September 9th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Tower Semiconductor Stock Down 7.6 %

NASDAQ TSEM opened at $43.10 on Tuesday. Tower Semiconductor has a 12 month low of $22.30 and a 12 month high of $48.10. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.78 billion, a PE ratio of 9.73 and a beta of 0.90. The stock’s 50 day moving average is $43.34 and its 200 day moving average is $40.37.

Institutional Trading of Tower Semiconductor

A number of large investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in Tower Semiconductor by 1.0% during the first quarter. Swiss National Bank now owns 220,171 shares of the semiconductor company’s stock worth $7,209,000 after acquiring an additional 2,189 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Tower Semiconductor by 86.0% during the 1st quarter. Russell Investments Group Ltd. now owns 319,162 shares of the semiconductor company’s stock valued at $10,676,000 after purchasing an additional 147,583 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Tower Semiconductor during the 1st quarter valued at $243,000. William Blair Investment Management LLC purchased a new stake in Tower Semiconductor during the 1st quarter valued at $34,911,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Tower Semiconductor in the first quarter worth $164,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.