Tower Semiconductor (NASDAQ:TSEM) Upgraded to “Hold” by BidaskClub

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

TSEM has been the subject of several other research reports. Credit Suisse Group raised their target price on Tower Semiconductor from $19.00 to $21.00 and gave the stock a neutral rating in a research note on Thursday, May 14th. Craig Hallum decreased their price objective on Tower Semiconductor from $26.00 to $25.00 and set a buy rating on the stock in a report on Thursday, May 14th. Finally, Needham & Company LLC restated a buy rating and set a $27.00 price target on shares of Tower Semiconductor in a research report on Wednesday, May 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Tower Semiconductor currently has an average rating of Hold and a consensus price target of $24.33.

Shares of TSEM opened at $20.61 on Friday. 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 3.83. The business’s 50 day moving average price is $19.99 and its two-hundred day moving average price is $20.21. The firm has a market cap of $2.20 billion, a PE ratio of 27.12 and a beta of 1.42.

Tower Semiconductor (NASDAQ:TSEM) last issued its earnings results on Wednesday, May 13th. The semiconductor company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Tower Semiconductor had a return on equity of 6.50% and a net margin of 6.61%. The company had revenue of $300.17 million for the quarter, compared to analyst estimates of $299.00 million. Research analysts predict that Tower Semiconductor will post 0.85 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of TSEM. TRUE Private Wealth Advisors bought a new position in shares of Tower Semiconductor in the first quarter worth about $52,000. Bank of Montreal Can purchased a new stake in Tower Semiconductor during the fourth quarter valued at approximately $57,000. Tower Research Capital LLC TRC raised its position in 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 valued at $61,000 after purchasing an additional 1,673 shares during the period. USA Financial Portformulas Corp purchased a new stake in Tower Semiconductor during the first quarter valued at approximately $110,000. Finally, PNC Financial Services Group Inc. raised its position in Tower Semiconductor by 108.5% during the first quarter. PNC Financial Services Group Inc. now owns 9,031 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 4,700 shares during the period. 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.

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