Tower Semiconductor (NASDAQ:TSEM) Rating Lowered to Sell at BidaskClub

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BidaskClub lowered shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a sell rating in a research report released on Saturday, BidAskClub reports.

Several other equities analysts also recently commented on TSEM. Needham & Company LLC reiterated a buy rating and issued a $27.00 target price on shares of Tower Semiconductor in a research report on Wednesday, May 13th. Credit Suisse Group increased their target price on Tower Semiconductor from $19.00 to $21.00 and gave the company a neutral rating in a research report on Thursday, May 14th. Finally, Craig Hallum dropped their target price on Tower Semiconductor from $26.00 to $25.00 and set a buy rating for the company in a research report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $24.33.

Shares of TSEM stock opened at $19.09 on Friday. The company has a quick ratio of 3.11, a current ratio of 3.83 and a debt-to-equity ratio of 0.16. Tower Semiconductor has a twelve month low of $12.13 and a twelve month high of $25.80. The company has a market cap of $1.98 billion, a P/E ratio of 25.12 and a beta of 1.42. The business has a fifty day simple moving average of $19.99 and a 200 day simple moving average of $20.52.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings data on Wednesday, May 13th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Tower Semiconductor had a return on equity of 6.50% and a net margin of 6.61%. The business had revenue of $300.17 million during the quarter, compared to the consensus estimate of $299.00 million. As a group, equities research analysts anticipate that Tower Semiconductor will post 0.85 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of Tower Semiconductor by 129.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,153 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 1,215 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Tower Semiconductor by 12.0% during the first quarter. Commonwealth Equity Services LLC now owns 11,818 shares of the semiconductor company’s stock worth $188,000 after acquiring an additional 1,263 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tower Semiconductor by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 79,666 shares of the semiconductor company’s stock worth $1,916,000 after acquiring an additional 1,627 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Tower Semiconductor by 77.7% during the first quarter. Tower Research Capital LLC TRC now owns 3,826 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 1,673 shares during the last quarter. Finally, Aperio Group LLC raised its position in shares of Tower Semiconductor by 10.7% during the first quarter. Aperio Group LLC now owns 19,417 shares of the semiconductor company’s stock worth $309,000 after acquiring an additional 1,875 shares during the last quarter. Institutional investors own 53.83% 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. It 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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