Tower Semiconductor (NASDAQ:TSEM) Hits New 52-Week High – Time to Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM) reached a new 52-week high on Monday . The stock traded as high as $308.79 and last traded at $308.0470, with a volume of 1221917 shares trading hands. The stock had previously closed at $286.74.

Analysts Set New Price Targets

TSEM has been the subject of several research analyst reports. Susquehanna lifted their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Wedbush increased their target price on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Benchmark raised their target price on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $276.75.

Tower Semiconductor Trading Down 2.9%

The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $30.86 billion, a PE ratio of 128.74 and a beta of 0.87. The stock’s fifty day simple moving average is $246.07 and its 200 day simple moving average is $174.99.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The firm had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. Tower Semiconductor had a net margin of 15.13% and a return on equity of 8.54%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, sell-side analysts predict that Tower Semiconductor Ltd. will post 2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. USA Financial Formulas purchased a new stake in Tower Semiconductor in the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC lifted 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 valued at $30,000 after purchasing an additional 300 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Tower Semiconductor in the third quarter worth approximately $48,000. Kestra Advisory Services LLC bought a new position in shares of Tower Semiconductor in the fourth quarter worth approximately $52,000. Finally, Hanson & Doremus Investment Management purchased a new stake in shares of Tower Semiconductor in the first quarter worth $53,000. Institutional investors own 70.51% of the company’s stock.

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.