Tower Semiconductor (NASDAQ:TSEM) Shares Gap Up – Time to Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price gapped up prior to trading on Monday . The stock had previously closed at $29.65, but opened at $30.63. Tower Semiconductor shares last traded at $30.52, with a volume of 232,749 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $60.00 target price on shares of Tower Semiconductor in a research report on Monday. Wedbush reissued an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Price Performance

The company has a 50-day moving average of $41.30 and a 200-day moving average of $45.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 18.98 and a beta of 0.84.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TSEM. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tower Semiconductor by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,577 shares of the semiconductor company’s stock worth $703,000 after purchasing an additional 643 shares during the period. USS Investment Management Ltd purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $828,000. Squarepoint Ops LLC acquired a new position in shares of Tower Semiconductor during the fourth quarter worth about $247,000. Two Sigma Advisers LP raised its holdings in Tower Semiconductor by 110.2% during the fourth quarter. Two Sigma Advisers LP now owns 41,200 shares of the semiconductor company’s stock worth $2,122,000 after purchasing an additional 21,600 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Tower Semiconductor in the fourth quarter valued at about $1,720,000. 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.