Tower Semiconductor (NASDAQ:TSEM) Stock Price Down 8% – Should You Sell?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price traded down 8% on Friday . The stock traded as low as $239.00 and last traded at $248.3760. 370,286 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,464,224 shares. The stock had previously closed at $269.88.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TSEM shares. Susquehanna boosted 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 raised their price target on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Benchmark upped their target price on Tower Semiconductor from $230.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $276.75.

Tower Semiconductor Stock Performance

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 firm has a market capitalization of $27.32 billion, a P/E ratio of 113.02 and a beta of 0.87. The business’s 50 day simple moving average is $248.50 and its two-hundred day simple moving average is $177.21.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Amundi boosted its position in shares of Tower Semiconductor by 86.8% during the first quarter. Amundi now owns 21,617 shares of the semiconductor company’s stock valued at $771,000 after buying an additional 10,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Tower Semiconductor by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 99,633 shares of the semiconductor company’s stock valued at $3,553,000 after acquiring an additional 3,954 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tower Semiconductor by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 95,384 shares of the semiconductor company’s stock valued at $4,135,000 after acquiring an additional 662 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Tower Semiconductor in the second quarter worth approximately $438,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Tower Semiconductor in the second quarter worth approximately $5,809,000. Hedge funds and other 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.