Tower Semiconductor (NASDAQ:TSEM) Shares Gap Down – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares gapped down prior to trading on Monday . The stock had previously closed at $48.64, but opened at $46.01. Tower Semiconductor shares last traded at $47.88, with a volume of 290,179 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently commented on TSEM shares. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna raised their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Craig Hallum upped their target price on shares of Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of Tower Semiconductor in a research note on Tuesday. Finally, Benchmark restated a “buy” rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Stock Performance

The stock’s 50-day moving average price is $50.74 and its 200-day moving average price is $45.75. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $5.07 billion, a P/E ratio of 24.75 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.12. The firm had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. Tower Semiconductor had a net margin of 14.75% and a return on equity of 8.22%. Tower Semiconductor’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $0.47 earnings per share. As a group, equities analysts expect that Tower Semiconductor Ltd. will post 1.81 EPS for the current year.

Institutional Investors Weigh In On Tower Semiconductor

Large investors have recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new position in Tower Semiconductor during the 3rd quarter worth $27,000. R Squared Ltd acquired a new stake in shares of Tower Semiconductor in the 4th quarter worth approximately $61,000. Blue Trust Inc. boosted its holdings in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,376 shares in the last quarter. Signaturefd LLC increased its stake in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 431 shares during the period. Finally, Crews Bank & Trust bought a new stake in Tower Semiconductor during the fourth quarter worth approximately $134,000. 70.51% of the stock is owned by institutional investors and hedge funds.

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.