Tower Semiconductor (NASDAQ:TSEM) Shares Up 9.9% – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) rose 9.9% during trading on Tuesday . The stock traded as high as $247.18 and last traded at $249.68. Approximately 433,950 shares were traded during trading, a decline of 82% from the average session volume of 2,399,050 shares. The stock had previously closed at $227.21.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TSEM shares. Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Wedbush raised their price objective on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Susquehanna lifted their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Finally, UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Three 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $276.75.

Tower Semiconductor Stock Performance

The firm’s fifty day moving average is $255.84 and its 200-day moving average is $190.84. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $28.34 billion, a PE ratio of 117.22 and a beta of 0.87.

Hedge Funds Weigh In On Tower Semiconductor

Several large investors have recently made changes to their positions in the stock. Covestor Ltd grew its position in shares of Tower Semiconductor by 10.8% during the fourth quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock worth $93,000 after buying an additional 77 shares in the last quarter. Silverleafe Capital Partners LLC raised its holdings in Tower Semiconductor by 3.0% in the second quarter. Silverleafe Capital Partners LLC now owns 2,860 shares of the semiconductor company’s stock valued at $745,000 after acquiring an additional 84 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Tower Semiconductor by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after acquiring an additional 127 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in Tower Semiconductor by 2.6% during the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after acquiring an additional 131 shares during the last quarter. Finally, Mariner LLC boosted its stake in Tower Semiconductor by 2.4% during the 3rd quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after acquiring an additional 207 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors and hedge funds.

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.