Tower Semiconductor Ltd. (TSEM) Receives $25.08 Average PT from Brokerages

Tower Semiconductor Ltd. (NASDAQ:TSEM) has received an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $25.08.

TSEM has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price objective (down previously from $20.00) on shares of Tower Semiconductor in a research note on Tuesday, January 22nd. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a report on Friday, February 8th. Finally, ValuEngine downgraded Tower Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd.

Shares of NASDAQ:TSEM opened at $17.09 on Friday. Tower Semiconductor has a 1 year low of $13.56 and a 1 year high of $29.36. The company has a quick ratio of 4.01, a current ratio of 4.85 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.25 and a beta of 1.20.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Tuesday, February 19th. The semiconductor company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. Tower Semiconductor had a return on equity of 13.59% and a net margin of 10.40%. The firm had revenue of $333.59 million for the quarter, compared to analysts’ expectations of $338.08 million. During the same quarter last year, the firm posted $0.55 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. On average, equities analysts forecast that Tower Semiconductor will post 1.32 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSEM. FMR LLC lifted its stake in Tower Semiconductor by 197.1% in the 3rd quarter. FMR LLC now owns 529,400 shares of the semiconductor company’s stock worth $11,520,000 after purchasing an additional 351,200 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Tower Semiconductor by 58.3% during the 3rd quarter. Renaissance Technologies LLC now owns 488,900 shares of the semiconductor company’s stock valued at $10,638,000 after buying an additional 180,000 shares during the period. Epoch Investment Partners Inc. purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at approximately $31,850,000. Wexford Capital LP purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at approximately $1,414,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Tower Semiconductor by 9.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 530,152 shares of the semiconductor company’s stock valued at $11,536,000 after buying an additional 46,554 shares during the period. 52.12% of the stock is currently owned by institutional investors and hedge funds.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company 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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Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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