Tower Semiconductor (NASDAQ:TSEM) Price Target Raised to $300.00

Tower Semiconductor (NASDAQ:TSEMGet Free Report) had its price target raised by equities research analysts at Wedbush from $140.00 to $300.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the semiconductor company’s stock. Wedbush’s price target indicates a potential upside of 10.85% from the company’s current price.

Several other research analysts have also recently weighed in on TSEM. Susquehanna reissued a “positive” rating and set a $180.00 price objective on shares of Tower Semiconductor in a report on Thursday, February 12th. Benchmark boosted their price objective on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Finally, Barclays raised their target price on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Tower Semiconductor currently has a consensus rating of “Hold” and a consensus target price of $213.00.

View Our Latest Analysis on Tower Semiconductor

Tower Semiconductor Stock Down 0.0%

Shares of NASDAQ:TSEM opened at $270.64 on Thursday. The firm has a market capitalization of $30.43 billion, a P/E ratio of 139.42 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The stock has a 50 day moving average price of $183.00 and a 200-day moving average price of $139.55. Tower Semiconductor has a 52-week low of $37.48 and a 52-week high of $271.92.

Tower Semiconductor (NASDAQ:TSEMGet Free Report) last announced its earnings results on Wednesday, May 13th. The semiconductor company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that Tower Semiconductor will post 2.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors have recently bought and sold shares of the business. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the 4th quarter worth about $27,000. Hanson & Doremus Investment Management bought a new position in shares of Tower Semiconductor in the 1st quarter valued at about $53,000. CIBC Private Wealth Group LLC grew its position in Tower Semiconductor by 254.2% in the third 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in Tower Semiconductor during the fourth quarter valued at approximately $52,000. Finally, Westside Investment Management Inc. lifted its stake in shares of Tower Semiconductor by 100.0% in 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. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor News Summary

Here are the key news stories impacting Tower Semiconductor this week:

About Tower Semiconductor

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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.

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