BidaskClub downgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a sell rating in a report issued on Friday.
Several other equities research analysts also recently issued reports on TSEM. ValuEngine downgraded Tower Semiconductor from a strong-buy rating to a buy rating in a report on Monday, May 7th. Needham & Company LLC downgraded Tower Semiconductor from a strong-buy rating to a buy rating and decreased 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 set a buy rating and a $46.00 price target for the company. Finally, Credit Suisse Group decreased their price target on Tower Semiconductor from $31.50 to $28.50 and set an outperform rating for the company in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $35.50.
Shares of Tower Semiconductor stock opened at $19.88 on Friday. Tower Semiconductor has a 12-month low of $19.26 and a 12-month high of $36.69. The firm has a market cap of $1.97 billion, a P/E ratio of 9.00, a P/E/G ratio of 0.82 and a beta of 1.12. The company has a quick ratio of 2.58, a current ratio of 3.07 and a debt-to-equity ratio of 0.11.
Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.02). Tower Semiconductor had a return on equity of 19.19% and a net margin of 19.58%. The company had revenue of $335.10 million for the quarter, compared to the consensus estimate of $335.00 million. During the same quarter last year, the company posted $0.49 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. equities analysts anticipate that Tower Semiconductor will post 1.63 EPS for the current year.
Large investors have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC bought a new position in Tower Semiconductor in the 1st quarter valued at $138,000. New England Research & Management Inc. bought a new position in Tower Semiconductor in the 2nd quarter valued at $354,000. Brinker Capital Inc. grew its stake in Tower Semiconductor by 54.7% in the 1st quarter. Brinker Capital Inc. now owns 14,296 shares of the semiconductor company’s stock valued at $385,000 after purchasing an additional 5,052 shares during the period. A.R.T. Advisors LLC bought a new position in Tower Semiconductor in the 1st quarter valued at $484,000. Finally, Koch Industries Inc. grew its stake in Tower Semiconductor by 48.0% in the 1st quarter. Koch Industries Inc. now owns 18,012 shares of the semiconductor company’s stock valued at $485,000 after purchasing an additional 5,838 shares during the period. Hedge funds and other institutional investors own 46.19% 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. 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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