Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) dropped 5.8% during mid-day trading on Monday . The company traded as low as $18.40 and last traded at $18.64, approximately 794,129 shares were traded during trading. An increase of 65% from the average daily volume of 480,663 shares. The stock had previously closed at $19.78.
Several equities analysts recently issued reports on the company. Credit Suisse Group downgraded Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $17.71 target price on the stock. in a research report on Wednesday, April 24th. BidaskClub raised Tower Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, June 29th. TheStreet downgraded Tower Semiconductor from a “b-” rating to a “c” rating in a research report on Monday, July 29th. Finally, ValuEngine raised Tower Semiconductor from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Tower Semiconductor presently has an average rating of “Buy” and a consensus price target of $23.29.
The company has a quick ratio of 3.73, a current ratio of 4.82 and a debt-to-equity ratio of 0.21. The company’s 50-day simple moving average is $16.93. The stock has a market capitalization of $1.84 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31.
Large investors have recently bought and sold shares of the business. Penserra Capital Management LLC boosted its holdings in Tower Semiconductor by 72.1% in the first quarter. Penserra Capital Management LLC now owns 5,070 shares of the semiconductor company’s stock valued at $83,000 after purchasing an additional 2,124 shares during the last quarter. Bank Hapoalim BM purchased a new stake in shares of Tower Semiconductor during the 1st quarter worth about $234,000. Aperio Group LLC purchased a new stake in shares of Tower Semiconductor during the 2nd quarter worth about $226,000. AlphaCrest Capital Management LLC purchased a new stake in shares of Tower Semiconductor during the 1st quarter worth about $291,000. Finally, SG Americas Securities LLC boosted its stake in shares of Tower Semiconductor by 85.5% during the 1st quarter. SG Americas Securities LLC now owns 19,877 shares of the semiconductor company’s stock worth $329,000 after acquiring an additional 9,160 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.
About Tower Semiconductor (NASDAQ:TSEM)
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It 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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