Tower Semiconductor’s (TSEM) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a report published on Thursday morning,Benzinga reports. Benchmark currently has a $55.00 price objective on the semiconductor company’s stock.

A number of other research firms also recently weighed in on TSEM. StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Susquehanna boosted their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

Tower Semiconductor Trading Down 3.8 %

Shares of Tower Semiconductor stock opened at $44.55 on Thursday. The company’s fifty day simple moving average is $43.70 and its 200-day simple moving average is $40.67. The stock has a market capitalization of $4.94 billion, a PE ratio of 24.08 and a beta of 0.90. Tower Semiconductor has a 1-year low of $26.62 and a 1-year high of $50.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.82 and a quick ratio of 4.94.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. The company had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same quarter in the previous year, the company earned $0.47 EPS. Tower Semiconductor’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts anticipate that Tower Semiconductor will post 1.82 earnings per share for the current year.

Institutional Trading of Tower Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Transcendent Capital Group LLC acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $27,000. USA Financial Formulas acquired a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $38,000. Blue Trust Inc. lifted its holdings in shares of Tower Semiconductor by 319.3% in the 3rd quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,376 shares during the period. Signaturefd LLC lifted its holdings in shares of Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Tower Semiconductor in the 1st quarter valued at about $164,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.