Tower Semiconductor (NASDAQ:TSEM) Trading Down 6.6% – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price traded down 6.6% during mid-day trading on Friday . The company traded as low as $211.46 and last traded at $222.3190. 924,955 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 2,411,265 shares. The stock had previously closed at $237.92.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TSEM shares. Susquehanna increased their price target on shares of Tower Semiconductor from $180.00 to $330.00 and gave the company a “positive” rating in a research report on Thursday, May 14th. Wedbush boosted their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Benchmark reissued a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday. Finally, UBS Group restated a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.75.

Tower Semiconductor Trading Down 3.1%

The firm has a fifty day moving average of $255.41 and a two-hundred day moving average of $189.30. The company has a market cap of $25.92 billion, a PE ratio of 107.28 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04.

Institutional Trading of Tower Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the business. USA Financial Formulas bought a new position in Tower Semiconductor in the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC raised its holdings 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 acquiring an additional 300 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Tower Semiconductor during the third quarter worth $48,000. Kestra Advisory Services LLC purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth $52,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Tower Semiconductor in the first quarter worth $53,000. 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.