Tower Semiconductor (NASDAQ:TSEM) Stock Price Expected to Rise, Craig Hallum Analyst Says

Tower Semiconductor (NASDAQ:TSEM) had its price target boosted by research analysts at Craig Hallum from $54.00 to $60.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target would suggest a potential upside of 34.68% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Susquehanna lifted their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a report on Thursday. Finally, StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Tower Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Stock Down 3.8 %

Shares of NASDAQ:TSEM opened at $44.55 on Thursday. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 24.26 and a beta of 0.90. Tower Semiconductor has a one year low of $26.62 and a one year high of $50.25. The firm has a fifty day moving average price of $43.62 and a two-hundred day moving average price of $40.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94.

Institutional Trading of Tower Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of TSEM. Swiss National Bank raised its holdings in Tower Semiconductor by 1.0% in the first quarter. Swiss National Bank now owns 220,171 shares of the semiconductor company’s stock worth $7,209,000 after buying an additional 2,189 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Tower Semiconductor by 86.0% during the 1st quarter. Russell Investments Group Ltd. now owns 319,162 shares of the semiconductor company’s stock valued at $10,676,000 after buying an additional 147,583 shares in the last quarter. ProShare Advisors LLC purchased a new position in Tower Semiconductor during the first quarter valued at approximately $243,000. State Board of Administration of Florida Retirement System bought a new position in Tower Semiconductor in the 1st quarter worth $164,000. Finally, Vanguard Group Inc. boosted its stake in shares of Tower Semiconductor by 1.7% in the first quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock worth $126,808,000 after acquiring an additional 64,679 shares during the period. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.