Tower Semiconductor Ltd. (NASDAQ:TSEM) Stock Has Average Price Target of $316.00

Tower Semiconductor Ltd. (NASDAQ:TSEM) has received an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $316.00.

A number of equities analysts recently commented on the company. National Bank Financial upgraded Tower Semiconductor to a “buy” rating in a report on Friday, August 7th. Barclays started coverage on shares of Tower Semiconductor in a research report on Friday, September 18th. They issued an “overweight” rating and a $310.00 target price for the company. UBS Group restated a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Tower Semiconductor from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 18th. Finally, Mizuho began coverage on shares of Tower Semiconductor in a research note on Friday, September 25th. They issued an “outperform” rating and a $300.00 price objective for the company.

Tower Semiconductor Stock Performance

Shares of NASDAQ TSEM opened at $227.43 on Monday. The business’s 50-day moving average price is $224.37 and its two-hundred day moving average price is $226.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.91 and a quick ratio of 4.31. Tower Semiconductor has a one year low of $70.90 and a one year high of $319.94. The company has a market capitalization of $25.57 billion, a P/E ratio of 89.89 and a beta of 0.88.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Tuesday, August 4th. The semiconductor company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.12. The company had revenue of $460.08 million for the quarter, compared to analyst estimates of $454.68 million. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.The business’s revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. Analysts anticipate that Tower Semiconductor will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tower Semiconductor

In other Tower Semiconductor news, Director Yoav Chelouche sold 232 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $215.06, for a total transaction of $49,893.92. Following the transaction, the director directly owned 33,734 shares in the company, valued at $7,254,834.04. This trade represents a 0.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Russell Ellwanger sold 104,226 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $248.34, for a total value of $25,883,484.84. Following the transaction, the chief executive officer owned 526,788 shares in the company, valued at approximately $130,822,531.92. This trade represents a 16.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 181,767 shares of company stock worth $45,610,065 over the last three months. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. raised its holdings in shares of Tower Semiconductor by 4.1% in the 2nd quarter. QRG Capital Management Inc. now owns 1,295 shares of the semiconductor company’s stock worth $338,000 after buying an additional 51 shares in the last quarter. Silverleafe Capital Partners LLC boosted its stake in Tower Semiconductor by 3.0% in the 2nd quarter. Silverleafe Capital Partners LLC now owns 2,860 shares of the semiconductor company’s stock valued at $745,000 after buying an additional 84 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in Tower Semiconductor by 8.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 1,428 shares of the semiconductor company’s stock valued at $372,000 after buying an additional 107 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Tower Semiconductor by 230.7% in the second quarter. TD Waterhouse Canada Inc. now owns 334 shares of the semiconductor company’s stock valued at $82,000 after acquiring an additional 233 shares during the period. Finally, Hanson & Doremus Investment Management bought a new stake in Tower Semiconductor in the first quarter valued at $53,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

About Tower Semiconductor

Tower Semiconductor Ltd. is an Israel-based specialty semiconductor foundry that manufactures integrated circuits for fabless semiconductor companies, integrated device manufacturers and other technology companies. Rather than selling products under a broad consumer brand, Tower provides wafer fabrication, process technology and manufacturing services tailored to customers’ chip designs.

The company specializes in analog and mixed-signal semiconductors, radio-frequency components, power-management devices, CMOS image sensors and other specialty technologies.