Tower Semiconductor (NASDAQ:TSEM) Sees Unusually-High Trading Volume – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares saw an uptick in trading volume on Monday . 1,623,032 shares were traded during mid-day trading, an increase of 83% from the previous session’s volume of 889,205 shares.The stock last traded at $95.3360 and had previously closed at $84.07.

Analysts Set New Price Targets

A number of brokerages have commented on TSEM. Susquehanna set a $66.00 price target on Tower Semiconductor and gave the stock a “positive” rating in a research report on Tuesday, August 5th. Benchmark raised their price objective on Tower Semiconductor from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Wedbush set a $65.00 target price on Tower Semiconductor and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Barclays assumed coverage on shares of Tower Semiconductor in a report on Thursday, September 18th. They issued an “equal weight” rating and a $74.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tower Semiconductor in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.60.

Tower Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 6.57 and a quick ratio of 5.50. The stock has a fifty day simple moving average of $72.48 and a 200-day simple moving average of $54.10. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 56.42 and a beta of 0.94.

Institutional Trading of Tower Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in Tower Semiconductor by 242.3% in the third quarter. Citigroup Inc. now owns 63,766 shares of the semiconductor company’s stock valued at $4,544,000 after buying an additional 45,138 shares in the last quarter. Y.D. More Investments Ltd grew its position in shares of Tower Semiconductor by 7.3% during the 3rd quarter. Y.D. More Investments Ltd now owns 965,445 shares of the semiconductor company’s stock valued at $68,755,000 after acquiring an additional 65,540 shares during the period. Pekin Hardy Strauss Inc. acquired a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $521,000. King Luther Capital Management Corp increased its stake in shares of Tower Semiconductor by 13.2% in the 3rd quarter. King Luther Capital Management Corp now owns 288,351 shares of the semiconductor company’s stock valued at $20,848,000 after purchasing an additional 33,570 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Tower Semiconductor in the 3rd quarter worth about $366,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.