Tower Semiconductor (NASDAQ:TSEM) Hits New 12-Month High – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEMGet Free Report)’s stock price reached a new 52-week high on Friday . The stock traded as high as $287.66 and last traded at $283.7630, with a volume of 80024 shares traded. The stock had previously closed at $279.01.

Wall Street Analysts Forecast Growth

TSEM has been the subject of several research analyst reports. Susquehanna lifted their target price on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research report on Thursday, May 14th. Benchmark lifted their target price on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Barclays lifted their target price on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Finally, Wedbush lifted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Tower Semiconductor currently has an average rating of “Hold” and a consensus target price of $276.75.

Read Our Latest Report on TSEM

Tower Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92. The firm has a fifty day moving average of $200.70 and a two-hundred day moving average of $147.37. The stock has a market capitalization of $31.87 billion, a P/E ratio of 132.44 and a beta of 0.85.

Tower Semiconductor (NASDAQ:TSEMGet Free Report) last released its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. The firm had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, analysts predict that Tower Semiconductor Ltd. will post 2.64 EPS for the current year.

Institutional Trading of Tower Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its holdings in shares of Tower Semiconductor by 10.8% in the fourth quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after acquiring an additional 77 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Tower Semiconductor by 2.6% in the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after purchasing an additional 127 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in Tower Semiconductor by 2.6% in the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock worth $601,000 after purchasing an additional 131 shares in the last quarter. Mariner LLC raised its holdings in Tower Semiconductor by 2.4% in the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 207 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Tower Semiconductor by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company’s stock worth $922,000 after purchasing an additional 218 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Company Profile

(Get Free Report)

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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