Tower Semiconductor (NASDAQ:TSEM) Trading Down 5.3% – Should You Sell?

by · The Cerbat Gem

Tower Semiconductor Ltd. (NASDAQ:TSEM – Get Free Report)’s stock price was down 5.3% during mid-day trading on Wednesday . The company traded as low as $110.38 and last traded at $110.2360. Approximately 512,206 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 982,251 shares. The stock had previously closed at $116.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSEM. Benchmark boosted their price target on Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday. Susquehanna raised their price target on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Barclays boosted their price objective on shares of Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Finally, Wedbush upped their price objective on shares of Tower Semiconductor from $85.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, November 11th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.25.

Check Out Our Latest Research Report on TSEM

Tower Semiconductor Trading Down 2.1%

The company has a market cap of $12.63 billion, a price-to-earnings ratio of 66.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.61 and a quick ratio of 5.54. The firm’s fifty day moving average price is $84.59 and its 200-day moving average price is $61.64.

Tower Semiconductor (NASDAQ:TSEM – Get Free Report) last released its quarterly earnings data on Monday, November 10th. The semiconductor company reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. The business had revenue of $395.67 million for the quarter, compared to analysts’ expectations of $394.98 million. Tower Semiconductor had a net margin of 12.92% and a return on equity of 7.16%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. On average, equities analysts expect that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ARK Investment Management LLC grew its position in Tower Semiconductor by 24.7% in the 2nd quarter. ARK Investment Management LLC now owns 46,339 shares of the semiconductor company’s stock valued at $2,009,000 after buying an additional 9,180 shares in the last quarter. American Century Companies Inc. raised its position in shares of Tower Semiconductor by 43.6% during the 2nd quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock worth $23,786,000 after buying an additional 166,533 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Tower Semiconductor by 17.2% in the second quarter. Tectonic Advisors LLC now owns 26,396 shares of the semiconductor company’s stock valued at $1,144,000 after acquiring an additional 3,883 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of Tower Semiconductor by 40.6% during the second quarter. Penserra Capital Management LLC now owns 468,481 shares of the semiconductor company’s stock valued at $20,308,000 after acquiring an additional 135,250 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Tower Semiconductor by 18.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 23,442 shares of the semiconductor company’s stock worth $1,016,000 after purchasing an additional 3,704 shares in the last quarter. 70.51% of the stock is owned by institutional investors.

About Tower Semiconductor

(Get Free Report)

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. 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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