Tower Semiconductor (NASDAQ:TSEM) Trading 8.4% Higher – Time to Buy?

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) traded up 8.4% on Monday . The company traded as high as $137.50 and last traded at $135.3940. 1,407,284 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 2,011,283 shares. The stock had previously closed at $124.87.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Benchmark lifted their price objective on shares of Tower Semiconductor from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Barclays boosted their price objective on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of Tower Semiconductor in a report on Thursday, February 12th. Finally, Wedbush upped their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. Two investment 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 a consensus rating of “Hold” and an average price target of $156.75.

Tower Semiconductor Trading Up 11.0%

The company has a debt-to-equity ratio of 0.05, a current ratio of 6.48 and a quick ratio of 5.51. The company has a market capitalization of $15.37 billion, a PE ratio of 71.83 and a beta of 0.89. The company’s fifty day moving average is $127.16 and its 200-day moving average is $97.79.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business had revenue of $440.21 million for the quarter, compared to analyst estimates of $439.81 million. During the same period in the previous year, the company earned $0.49 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts anticipate that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. USA Financial Formulas purchased a new position in shares of Tower Semiconductor in the fourth quarter worth $27,000. CIBC Private Wealth Group LLC lifted its position in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares during the period. Westside Investment Management Inc. grew its stake in Tower Semiconductor by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after purchasing an additional 226 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Tower Semiconductor in the third quarter valued at about $48,000. Finally, Covestor Ltd acquired a new stake in shares of Tower Semiconductor during the third quarter worth about $52,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.