Tower Semiconductor (NASDAQ:TSEM) Trading Up 7.2% – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price traded up 7.2% during trading on Friday . The company traded as high as $128.98 and last traded at $127.09. 787,684 shares traded hands during trading, a decline of 61% from the average session volume of 2,042,749 shares. The stock had previously closed at $118.54.

Analyst Upgrades and Downgrades

TSEM has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a research report on Monday, December 29th. Barclays lifted their price target on Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Wedbush upped their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Susquehanna reiterated a “positive” rating and set a $180.00 price objective on shares of Tower Semiconductor in a report on Thursday, February 12th. Finally, Benchmark lifted their target price on Tower Semiconductor from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Tower Semiconductor has a consensus rating of “Hold” and an average price target of $156.75.

Tower Semiconductor Stock Performance

The stock has a market capitalization of $14.02 billion, a P/E ratio of 64.62 and a beta of 0.91. The stock has a 50 day simple moving average of $127.35 and a two-hundred day simple moving average of $102.33. The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.11. The company had revenue of $440.21 million for the quarter, compared to analysts’ expectations of $439.81 million. Tower Semiconductor had a return on equity of 7.86% and a net margin of 14.08%.The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 EPS. On average, equities analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Institutional Trading of Tower Semiconductor

A number of large investors have recently added to or reduced their stakes in the company. Argent Trust Co acquired a new stake in shares of Tower Semiconductor during the 3rd quarter worth about $287,000. American Century Companies Inc. grew its stake in Tower Semiconductor by 43.6% in the 2nd quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock valued at $23,786,000 after buying an additional 166,533 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Tower Semiconductor in the 3rd quarter valued at about $1,168,000. Jennison Associates LLC raised its holdings in Tower Semiconductor by 18.8% in the 3rd quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock valued at $168,591,000 after acquiring an additional 369,600 shares during the period. Finally, G2 Investment Partners Management LLC acquired a new stake in Tower Semiconductor during the second quarter worth approximately $4,985,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

About Tower Semiconductor

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.