Tower Semiconductor’s (TSEM) Buy Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a report released on Friday morning, Marketbeat reports. They currently have a $150.00 price objective on the semiconductor company’s stock, up from their previous price objective of $120.00.

TSEM has been the topic of several other research reports. Susquehanna raised their price objective on Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a report on Tuesday, November 11th. Wedbush downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target on the stock. in a research note on Wednesday, December 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Finally, Barclays increased their price objective on Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $126.75.

Tower Semiconductor Trading Up 2.3%

Shares of Tower Semiconductor stock opened at $120.03 on Friday. The company has a current ratio of 6.61, a quick ratio of 5.54 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $109.74 and a 200-day simple moving average of $77.20. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 69.78 and a beta of 0.87. Tower Semiconductor has a 12-month low of $28.64 and a 12-month high of $129.58.

Hedge Funds Weigh In On Tower Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp increased its stake in Tower Semiconductor by 2.6% in the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after buying an additional 127 shares during the period. Mariner LLC boosted its holdings in shares of Tower Semiconductor by 2.4% in the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 207 shares in the last quarter. Westside Investment Management Inc. increased its stake in shares of Tower Semiconductor by 100.0% during the third quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after acquiring an additional 226 shares during the period. Blue Trust Inc. increased its stake in shares of Tower Semiconductor by 14.8% during the second quarter. Blue Trust Inc. now owns 1,764 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 227 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Tower Semiconductor by 254.2% during the third quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

About Tower Semiconductor

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.