Tower Semiconductor (NASDAQ:TSEM) Reaches New 12-Month High – Time to Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM) hit a new 52-week high during trading on Wednesday . The company traded as high as $54.72 and last traded at $54.81, with a volume of 6786 shares trading hands. The stock had previously closed at $53.76.

Analysts Set New Price Targets

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

Tower Semiconductor Trading Up 0.0 %

The company has a quick ratio of 4.89, a current ratio of 5.82 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average is $50.17 and its two-hundred day moving average is $45.00. The firm has a market cap of $6.00 billion, a P/E ratio of 29.28 and a beta of 0.89.

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

Institutional Investors Weigh In On Tower Semiconductor

Hedge funds have recently bought and sold shares of the business. Transcendent Capital Group LLC bought a new stake in Tower Semiconductor during the 3rd quarter valued at about $27,000. USA Financial Formulas purchased a new stake in shares of Tower Semiconductor during the 3rd quarter valued at about $38,000. R Squared Ltd bought a new position in shares of Tower Semiconductor in the 4th quarter worth approximately $61,000. Blue Trust Inc. boosted its holdings in shares of 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 buying an additional 1,376 shares during the last quarter. Finally, Signaturefd LLC grew 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. Institutional investors own 70.51% of the company’s stock.

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.