Tower Semiconductor (NASDAQ:TSEM) Reaches New 1-Year High – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $50.66 and last traded at $50.50, with a volume of 75594 shares trading hands. The stock had previously closed at $49.59.

Wall Street Analyst Weigh In

Several analysts have issued reports on TSEM shares. StockNews.com cut shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna increased their price objective on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Craig Hallum lifted their price objective on Tower Semiconductor from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Benchmark restated a “buy” rating and issued a $55.00 target price on shares of Tower Semiconductor in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Up 1.2 %

The stock’s fifty day moving average price is $45.19 and its 200 day moving average price is $41.80. The company has a current ratio of 5.82, a quick ratio of 4.89 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.56 billion, a P/E ratio of 26.81 and a beta of 0.92.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.12. Tower Semiconductor had a return on equity of 8.22% and a net margin of 14.75%. The business had revenue of $370.50 million for the quarter, compared to analysts’ expectations of $370.30 million. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts forecast that Tower Semiconductor Ltd. will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Transcendent Capital Group LLC bought a new stake in shares of Tower Semiconductor in the 3rd quarter worth approximately $27,000. USA Financial Formulas bought a new stake in Tower Semiconductor in the third quarter worth $38,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,376 shares during the last quarter. Signaturefd LLC boosted its position in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares during the period. Finally, Scientech Research LLC bought a new position in shares of Tower Semiconductor during the second quarter valued at about $200,000. 70.51% of the stock is currently owned by 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.