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

Benchmark reissued their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report report published on Monday morning,Benzinga reports. Benchmark currently has a $60.00 target price on the semiconductor company’s stock.

Separately, Wedbush reissued an “outperform” rating and issued a $60.00 target price on shares of Tower Semiconductor in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Tower Semiconductor Price Performance

Shares of TSEM stock opened at $35.30 on Monday. The business has a fifty day simple moving average of $40.77 and a 200 day simple moving average of $45.33. The company has a market cap of $3.91 billion, a P/E ratio of 18.98 and a beta of 0.84. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a twelve month low of $28.64 and a twelve month high of $55.31.

Hedge Funds Weigh In On Tower Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of TSEM. Invesco Ltd. grew its holdings in shares of Tower Semiconductor by 251.9% during the fourth quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company’s stock worth $90,721,000 after purchasing an additional 1,260,683 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Tower Semiconductor by 21.0% during the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company’s stock worth $193,604,000 after acquiring an additional 653,191 shares during the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in Tower Semiconductor in the 4th quarter valued at approximately $33,034,000. Shellback Capital LP bought a new position in shares of Tower Semiconductor during the fourth quarter valued at $21,261,000. Finally, American Century Companies Inc. acquired a new position in shares of Tower Semiconductor during the fourth quarter worth $20,015,000. 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.