Susquehanna Forecasts Strong Price Appreciation for Tower Semiconductor (NASDAQ:TSEM) Stock

Tower Semiconductor (NASDAQ:TSEM) had its target price lifted by Susquehanna from $55.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price objective would suggest a potential upside of 34.68% from the company’s previous close.

TSEM has been the topic of several other reports. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Price Performance

TSEM stock opened at $44.55 on Thursday. The company has a market capitalization of $4.94 billion, a P/E ratio of 24.26 and a beta of 0.90. The company has a fifty day moving average price of $43.62 and a 200-day moving average price of $40.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. Tower Semiconductor has a 52-week low of $26.62 and a 52-week high of $50.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TSEM. Truist Financial Corp increased its holdings in Tower Semiconductor by 3.8% in the second quarter. Truist Financial Corp now owns 7,432 shares of the semiconductor company’s stock worth $292,000 after purchasing an additional 273 shares in the last quarter. Signaturefd LLC increased its stake in shares of Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 431 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Tower Semiconductor by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 16,156 shares of the semiconductor company’s stock valued at $623,000 after acquiring an additional 506 shares during the period. Van ECK Associates Corp boosted its stake in Tower Semiconductor by 1.6% during the third quarter. Van ECK Associates Corp now owns 33,680 shares of the semiconductor company’s stock worth $1,484,000 after acquiring an additional 522 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in Tower Semiconductor in the third quarter worth $27,000. 70.51% of the stock is owned by institutional investors and hedge funds.

About Tower Semiconductor

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.