Tower Semiconductor (NASDAQ:TSEM) Trading 9.9% Higher – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shot up 9.9% on Tuesday . The company traded as high as $247.18 and last traded at $249.68. 433,950 shares were traded during trading, a decline of 82% from the average session volume of 2,399,050 shares. The stock had previously closed at $227.21.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several recent analyst reports. Benchmark restated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. UBS Group reiterated a “buy” rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. Susquehanna boosted their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Finally, Wedbush increased their target price 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. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $276.75.

Tower Semiconductor Stock Performance

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 stock has a 50 day simple moving average of $256.02 and a two-hundred day simple moving average of $192.71. The stock has a market capitalization of $28.06 billion, a P/E ratio of 116.06 and a beta of 0.87.

Institutional Trading of Tower Semiconductor

Large investors have recently added to or reduced their stakes in the company. 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 stake in Tower Semiconductor in the 1st quarter valued at about $53,000. CIBC Private Wealth Group LLC grew 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 worth $30,000 after purchasing an additional 300 shares during the period. Kestra Advisory Services LLC bought a new position in Tower Semiconductor during the fourth quarter worth about $52,000. Finally, SBI Securities Co. Ltd. increased its position in Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock worth $61,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds 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.