Tower Semiconductor (NASDAQ:TSEM) Sets New 52-Week Low – Should You Sell?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $30.49 and last traded at $30.95, with a volume of 2678 shares. The stock had previously closed at $31.60.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Stock Performance

The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 16.29 and a beta of 0.87. The business has a 50-day moving average price of $42.70 and a 200-day moving average price of $45.72.

Institutional Investors Weigh In On Tower Semiconductor

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Tower Semiconductor by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company’s stock worth $205,954,000 after purchasing an additional 42,969 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Tower Semiconductor by 21.0% in the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company’s stock valued at $193,604,000 after buying an additional 653,191 shares during the period. Invesco Ltd. raised its position in Tower Semiconductor by 251.9% during the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company’s stock valued at $90,721,000 after acquiring an additional 1,260,683 shares in the last quarter. Menora Mivtachim Holdings LTD. boosted its position in Tower Semiconductor by 16.4% in the 4th quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company’s stock worth $69,307,000 after purchasing an additional 189,738 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Tower Semiconductor by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,037,788 shares of the semiconductor company’s stock worth $53,456,000 after buying an additional 25,247 shares in the last quarter. Hedge funds and other institutional investors 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.