Tower Semiconductor (NASDAQ:TSEM) Shares Down 7% – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares fell 7% during trading on Tuesday . The company traded as low as $188.24 and last traded at $189.0920. 613,803 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 2,602,330 shares. The stock had previously closed at $203.33.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSEM. Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of Tower Semiconductor in a research report on Thursday, February 12th. Benchmark upped their price objective on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Wedbush upped their price objective on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Finally, Barclays upped their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $173.00.

Tower Semiconductor Stock Performance

The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 114.53 and a beta of 0.71. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $169.23 and its two-hundred day moving average is $131.24.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The firm had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. Analysts expect that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new position in shares of Tower Semiconductor during the 4th quarter worth about $27,000. Hanson & Doremus Investment Management acquired a new position in shares of Tower Semiconductor during the 1st quarter worth about $53,000. CIBC Private Wealth Group LLC boosted its stake in shares of 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 during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Tower Semiconductor during the 4th quarter worth about $52,000. Finally, Westside Investment Management Inc. boosted its stake in shares of Tower Semiconductor by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after buying an additional 226 shares during the last quarter. 70.51% of the stock is 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.