Tower Semiconductor’s (TSEM) Buy Rating Reaffirmed at Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research note issued to investors on Wednesday morning, AnalystRatings.com reports. Needham & Company LLC currently has a $25.00 price target on the semiconductor company’s stock.
A number of other equities research analysts have also recently commented on TSEM. Craig Hallum decreased their price objective on Tower Semiconductor from $26.00 to $25.00 and set a buy rating for the company in a research note on Thursday, May 14th. Credit Suisse Group lifted their price objective on Tower Semiconductor from $19.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday, May 14th. Finally, BidaskClub raised Tower Semiconductor from a hold rating to a buy rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Tower Semiconductor presently has a consensus rating of Buy and a consensus target price of $23.67.
NASDAQ TSEM opened at $21.50 on Wednesday. The stock has a fifty day moving average of $20.50 and a 200-day moving average of $20.02. The stock has a market capitalization of $2.30 billion, a P/E ratio of 29.05 and a beta of 1.42. Tower Semiconductor has a 52 week low of $12.13 and a 52 week high of $25.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.11 and a current ratio of 3.51.
A number of hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. lifted its holdings in Tower Semiconductor by 11.2% during the fourth quarter. Macquarie Group Ltd. now owns 2,887,885 shares of the semiconductor company’s stock worth $69,483,000 after acquiring an additional 291,500 shares in the last quarter. Ion Asset Management Ltd. lifted its holdings in shares of Tower Semiconductor by 18.9% in the first quarter. Ion Asset Management Ltd. now owns 2,750,866 shares of the semiconductor company’s stock valued at $43,794,000 after purchasing an additional 437,905 shares in the last quarter. Shelter Haven Capital Management L.P. lifted its holdings in shares of Tower Semiconductor by 53.4% in the first quarter. Shelter Haven Capital Management L.P. now owns 2,490,321 shares of the semiconductor company’s stock valued at $39,646,000 after purchasing an additional 867,369 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Tower Semiconductor by 13.9% in the first quarter. Jennison Associates LLC now owns 1,551,934 shares of the semiconductor company’s stock valued at $24,707,000 after purchasing an additional 189,016 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Tower Semiconductor in the fourth quarter valued at about $31,708,000. Hedge funds and other institutional investors own 53.65% of the company’s stock.
About Tower Semiconductor
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
Featured Article: What is the 52-week high/low?
Receive News & Ratings for Tower Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.