Tower Semiconductor (TSEM) Cut to “Sell” at BidaskClub
BidaskClub lowered shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a sell rating in a report issued on Friday morning.
A number of other equities analysts have also commented on TSEM. ValuEngine lowered Tower Semiconductor from a strong-buy rating to a buy rating in a report on Monday, May 7th. Needham & Company LLC lowered Tower Semiconductor from a strong-buy rating to a buy rating and cut their price target for the stock from $50.00 to $32.00 in a report on Tuesday, May 8th. Loop Capital initiated coverage on Tower Semiconductor in a report on Thursday, June 21st. They issued a buy rating and a $46.00 price target for the company. Finally, Credit Suisse Group lowered their price objective on Tower Semiconductor from $31.50 to $28.50 and set an outperform rating on the stock in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Tower Semiconductor has a consensus rating of Buy and an average target price of $35.50.
Tower Semiconductor stock opened at $19.90 on Friday. Tower Semiconductor has a one year low of $19.26 and a one year high of $36.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.07 and a quick ratio of 2.58. The firm has a market capitalization of $1.97 billion, a PE ratio of 9.00, a P/E/G ratio of 0.82 and a beta of 1.12.
Several hedge funds have recently modified their holdings of TSEM. Neuberger Berman Group LLC raised its position in shares of Tower Semiconductor by 95.1% in the first quarter. Neuberger Berman Group LLC now owns 2,341,486 shares of the semiconductor company’s stock worth $62,894,000 after buying an additional 1,141,510 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Tower Semiconductor by 132,392.6% in the second quarter. Envestnet Asset Management Inc. now owns 483,598 shares of the semiconductor company’s stock worth $10,644,000 after buying an additional 483,233 shares in the last quarter. Dundas Partners LLP purchased a new stake in Tower Semiconductor during the first quarter valued at about $10,352,000. Clal Insurance Enterprises Holdings Ltd raised its position in Tower Semiconductor by 42.2% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,296,520 shares of the semiconductor company’s stock valued at $34,889,000 after purchasing an additional 385,000 shares in the last quarter. Finally, FIL Ltd raised its position in Tower Semiconductor by 24.3% during the first quarter. FIL Ltd now owns 1,562,000 shares of the semiconductor company’s stock valued at $42,033,000 after purchasing an additional 305,000 shares in the last quarter. Institutional investors own 46.19% of the company’s stock.
Tower Semiconductor Company Profile
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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