Tower Semiconductor (NASDAQ:TSEM) Stock Price Down 7.8% – What’s Next?

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) traded down 7.8% during trading on Monday . The company traded as low as $157.58 and last traded at $158.5490. 1,507,365 shares changed hands during trading, a decline of 41% from the average session volume of 2,542,554 shares. The stock had previously closed at $171.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Wedbush increased their target price on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Barclays raised their price target on Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Susquehanna reiterated a “positive” rating and issued a $180.00 price target on shares of Tower Semiconductor in a research report on Thursday, February 12th. Finally, Benchmark boosted their price objective on Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $173.00.

Tower Semiconductor Stock Performance

The company has a market cap of $17.65 billion, a P/E ratio of 81.19 and a beta of 0.91. The company’s fifty day moving average is $135.59 and its 200 day moving average is $109.76. The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. The business had revenue of $440.21 million during the quarter, compared to analyst estimates of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The company’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, equities analysts predict that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

Hedge funds have recently bought and sold shares of the business. USA Financial Formulas purchased a new position in shares of Tower Semiconductor during the fourth quarter valued at approximately $27,000. CIBC Private Wealth Group LLC increased its position in Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 300 shares in the last quarter. Westside Investment Management Inc. increased its position in Tower Semiconductor by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 226 shares in the last quarter. Advisory Services Network LLC purchased a new position in Tower Semiconductor during the third quarter valued at $48,000. Finally, Covestor Ltd bought a new stake in Tower Semiconductor in the third quarter worth $52,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.