Tower Semiconductor (NASDAQ:TSEM) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other equities research analysts also recently weighed in on the company. TheStreet downgraded Tower Semiconductor from a b- rating to a c+ rating in a research report on Thursday, August 24th. Craig Hallum raised shares of Tower Semiconductor from a hold rating to a buy rating and set a $38.00 price objective for the company in a research report on Thursday, August 17th.

Tower Semiconductor Stock Down 0.7 %

Shares of NASDAQ:TSEM opened at $28.01 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.68 and a current ratio of 4.77. Tower Semiconductor has a 1 year low of $27.33 and a 1 year high of $46.50. The stock has a market capitalization of $3.06 billion, a P/E ratio of 11.34 and a beta of 0.89. The stock has a 50-day simple moving average of $33.54 and a 200-day simple moving average of $38.45.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. Tower Semiconductor had a return on equity of 12.74% and a net margin of 17.82%. The company had revenue of $357.19 million during the quarter, compared to the consensus estimate of $354.04 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s revenue was down 16.2% compared to the same quarter last year. Equities analysts forecast that Tower Semiconductor will post 1.94 earnings per share for the current year.

Hedge Funds Weigh In On Tower Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSEM. Quadrant Capital Group LLC boosted its stake in Tower Semiconductor by 135.7% during the 4th quarter. Quadrant Capital Group LLC now owns 858 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 494 shares during the last quarter. BNP Paribas Arbitrage SNC bought a new position in Tower Semiconductor during the 3rd quarter valued at $40,000. US Bancorp DE lifted its stake in Tower Semiconductor by 50.6% during the first quarter. US Bancorp DE now owns 1,837 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 617 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Tower Semiconductor by 58.1% during the first quarter. Tower Research Capital LLC TRC now owns 3,313 shares of the semiconductor company’s stock worth $141,000 after purchasing an additional 1,218 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tower Semiconductor during the first quarter worth $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

About Tower Semiconductor

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.