Tower Semiconductor (NASDAQ:TSEM) Trading Up 8.2% – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares rose 8.2% during trading on Thursday . The company traded as high as $233.94 and last traded at $234.4580. 931,566 shares were traded during trading, a decline of 61% from the average daily volume of 2,418,531 shares. The stock had previously closed at $216.70.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSEM shares. Susquehanna raised their price target on Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Wedbush increased their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Benchmark lifted their target price on Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Stock Performance

The firm has a 50 day moving average of $252.27 and a 200-day moving average of $184.38. The company has a market cap of $26.42 billion, a P/E ratio of 109.30 and a beta of 0.87. The company has a quick ratio of 4.92, a current ratio of 5.63 and a debt-to-equity ratio of 0.04.

Institutional Trading of Tower Semiconductor

A number of hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd increased its position in Tower Semiconductor by 10.8% during the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 77 shares during the period. Silverleafe Capital Partners LLC lifted its position in shares of Tower Semiconductor by 3.0% in the 2nd quarter. Silverleafe Capital Partners LLC now owns 2,860 shares of the semiconductor company’s stock worth $745,000 after purchasing an additional 84 shares during the period. Mackenzie Financial Corp lifted its position in shares of Tower Semiconductor by 2.6% in the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock worth $359,000 after purchasing an additional 127 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of Tower Semiconductor by 2.6% during the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 131 shares in the last quarter. Finally, Mariner LLC boosted its stake in shares of Tower Semiconductor by 2.4% during the third quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after purchasing an additional 207 shares in the last quarter. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.