Tower Semiconductor (NASDAQ:TSEM) Earns Buy Rating from Benchmark

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating reiterated by stock analysts at Benchmark in a research note issued to investors on Thursday,Benzinga reports. They currently have a $60.00 price objective on the semiconductor company’s stock. Benchmark’s price objective would suggest a potential upside of 60.90% from the stock’s previous close.

Separately, Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Tower Semiconductor in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.00.

Tower Semiconductor Price Performance

Shares of NASDAQ TSEM opened at $37.29 on Thursday. The firm has a market cap of $4.13 billion, a P/E ratio of 20.05 and a beta of 0.75. Tower Semiconductor has a twelve month low of $28.64 and a twelve month high of $55.31. The company has a quick ratio of 5.23, a current ratio of 6.18 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $36.80 and a 200 day moving average of $44.30.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TSEM. Vanguard Group Inc. grew its holdings in Tower Semiconductor by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 3,993,287 shares of the semiconductor company’s stock valued at $205,954,000 after buying an additional 42,969 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Tower Semiconductor by 21.0% during the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company’s stock worth $193,604,000 after purchasing an additional 653,191 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Tower Semiconductor by 2.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,985,110 shares of the semiconductor company’s stock worth $70,789,000 after purchasing an additional 50,980 shares during the period. Invesco Ltd. grew its holdings in Tower Semiconductor by 251.9% during the 4th quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company’s stock valued at $90,721,000 after purchasing an additional 1,260,683 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. lifted its stake in Tower Semiconductor by 16.4% in the fourth quarter. Menora Mivtachim Holdings LTD. now owns 1,345,507 shares of the semiconductor company’s stock worth $69,307,000 after purchasing an additional 189,738 shares during the last quarter. 70.51% of the stock is currently owned by 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.