Tower Semiconductor (NASDAQ:TSEM) Hits New 12-Month High – Still a Buy?

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) reached a new 52-week high during trading on Thursday . The stock traded as high as $132.46 and last traded at $130.3030, with a volume of 348771 shares trading hands. The stock had previously closed at $123.20.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TSEM shares. Susquehanna boosted their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, November 11th. Wedbush cut Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price objective for the company. in a report on Wednesday, December 31st. Benchmark restated a “buy” rating and issued a $150.00 target price (up previously from $120.00) on shares of Tower Semiconductor in a research note on Friday, January 9th. Barclays raised their target price on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor has an average rating of “Hold” and a consensus price target of $126.75.

Tower Semiconductor Trading Up 4.7%

The stock has a market cap of $13.74 billion, a PE ratio of 75.48 and a beta of 0.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.54 and a current ratio of 6.61. The company has a 50 day moving average of $113.76 and a two-hundred day moving average of $79.55.

Institutional Investors Weigh In On Tower Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $27,000. CIBC Private Wealth Group LLC increased its stake in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after buying an additional 300 shares in the last quarter. Westside Investment Management Inc. raised its holdings 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 valued at $34,000 after acquiring an additional 226 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Tower Semiconductor during the third quarter valued at approximately $48,000. Finally, Covestor Ltd purchased a new position in shares of Tower Semiconductor in the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.