Tower Semiconductor (NASDAQ:TSEM) Stock Price Expected to Rise, Benchmark Analyst Says

Tower Semiconductor (NASDAQ:TSEM) had its price target lifted by analysts at Benchmark from $165.00 to $230.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Benchmark’s price target suggests a potential upside of 21.86% from the company’s previous close.

A number of other analysts have also recently weighed in on TSEM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Susquehanna reissued a “positive” rating and issued a $180.00 price objective on shares of Tower Semiconductor in a research report on Thursday, February 12th. Wedbush boosted their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Finally, Barclays upped their target price on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $173.00.

Tower Semiconductor Trading Up 4.4%

Shares of TSEM stock opened at $188.74 on Thursday. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 97.79 and a beta of 0.91. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a fifty-two week low of $28.64 and a fifty-two week high of $195.36. The firm’s 50 day moving average price is $133.73 and its two-hundred day moving average price is $107.95.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts anticipate that Tower Semiconductor will post 1.67 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Covestor Ltd lifted its position in shares of Tower Semiconductor by 10.8% during the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 77 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Tower Semiconductor by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after acquiring an additional 127 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Tower Semiconductor by 2.6% in the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock worth $601,000 after acquiring an additional 131 shares during the last quarter. Mariner LLC grew its holdings in shares of Tower Semiconductor by 2.4% in the 3rd quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock worth $637,000 after acquiring an additional 207 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Tower Semiconductor by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company’s stock worth $922,000 after acquiring an additional 218 shares during the last quarter. 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.