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

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $60.00 price objective on the semiconductor company’s stock. Benchmark’s target price would indicate a potential upside of 45.95% from the stock’s current price.

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

Tower Semiconductor Stock Performance

Shares of Tower Semiconductor stock opened at $41.11 on Thursday. Tower Semiconductor has a 52 week low of $28.64 and a 52 week 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 business has a 50 day moving average price of $36.49 and a 200-day moving average price of $43.91. The company has a market cap of $4.56 billion, a PE ratio of 22.10 and a beta of 0.75.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The company had revenue of $358.17 million for the quarter, compared to the consensus estimate of $358.09 million. Equities analysts anticipate that Tower Semiconductor will post 1.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. TCTC Holdings LLC boosted its holdings in shares of Tower Semiconductor by 117.9% in the 1st quarter. TCTC Holdings LLC now owns 706 shares of the semiconductor company’s stock worth $25,000 after buying an additional 382 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Tower Semiconductor in the first quarter worth about $39,000. R Squared Ltd purchased a new position in Tower Semiconductor in the fourth quarter valued at about $61,000. Blue Trust Inc. boosted its stake in Tower Semiconductor by 12.7% in the fourth quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company’s stock valued at $105,000 after acquiring an additional 230 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Tower Semiconductor during the 1st quarter valued at approximately $75,000. Institutional investors own 70.51% of the company’s stock.

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.