Tower Semiconductor (NASDAQ:TSEM) Raised to Buy at StockNews.com

Tower Semiconductor (NASDAQ:TSEMGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other equities research analysts also recently issued reports on TSEM. Jefferies Financial Group downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, February 15th. Craig Hallum downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday, February 15th. Finally, Needham & Company LLC restated a “hold” rating and issued a $45.00 target price on shares of Tower Semiconductor in a research note on Tuesday, February 15th.

Shares of NASDAQ:TSEM traded up $0.80 during midday trading on Friday, reaching $48.25. The company had a trading volume of 802,549 shares, compared to its average volume of 1,159,303. The stock has a market capitalization of $5.15 billion, a P/E ratio of 30.16 and a beta of 1.11. The stock’s fifty day moving average price is $48.01 and its 200-day moving average price is $42.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.88 and a quick ratio of 3.48. Tower Semiconductor has a one year low of $25.55 and a one year high of $49.13.

Tower Semiconductor (NASDAQ:TSEMGet Rating) last issued its quarterly earnings data on Monday, May 16th. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a return on equity of 11.20% and a net margin of 11.11%. The business had revenue of $421.13 million during the quarter, compared to the consensus estimate of $412.45 million. As a group, sell-side analysts forecast that Tower Semiconductor will post 1.98 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in TSEM. Alpine Associates Management Inc. bought a new position in Tower Semiconductor in the first quarter worth approximately $81,307,000. Versor Investments LP purchased a new position in shares of Tower Semiconductor during the first quarter worth approximately $81,114,000. JPMorgan Chase & Co. lifted its stake in shares of Tower Semiconductor by 389.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,017,039 shares of the semiconductor company’s stock valued at $97,625,000 after acquiring an additional 1,605,268 shares during the last quarter. TIG Advisors LLC bought a new position in shares of Tower Semiconductor in the first quarter worth approximately $73,849,000. Finally, Ion Asset Management Ltd. raised its stake in shares of Tower Semiconductor by 280.4% during the fourth quarter. Ion Asset Management Ltd. now owns 1,899,669 shares of the semiconductor company’s stock valued at $75,379,000 after acquiring an additional 1,400,326 shares during the last quarter.

About Tower Semiconductor (Get Rating)

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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