Tower Semiconductor (NASDAQ:TSEM) Shares Gap Down – Here’s What Happened

Tower Semiconductor Ltd. (NASDAQ:TSEM) gapped down prior to trading on Monday . The stock had previously closed at $219.67, but opened at $205.04. Tower Semiconductor shares last traded at $213.0590, with a volume of 539,671 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSEM. Susquehanna upped their price objective on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. UBS Group reaffirmed a “buy” rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Wedbush lifted their price objective on Tower Semiconductor from $140.00 to $300.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Benchmark restated a “buy” rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Tower Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $276.75.

Tower Semiconductor Price Performance

The company has a fifty day simple moving average of $249.19 and a two-hundred day simple moving average of $197.61. The stock has a market capitalization of $25.95 billion, a P/E ratio of 107.60 and a beta of 0.90. 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 Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hanson & Doremus Investment Management bought a new stake in shares of Tower Semiconductor in the first quarter worth about $53,000. CIBC Private Wealth Group LLC increased its position in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Tower Semiconductor during the fourth quarter worth $52,000. SBI Securities Co. Ltd. lifted its stake in Tower Semiconductor by 344.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 403 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $76,000. Institutional investors and hedge funds 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.