Tower Semiconductor (NASDAQ:TSEM) Downgraded by StockNews.com

StockNews.com downgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

A number of other analysts also recently weighed in on the stock. Benchmark reiterated a buy rating and issued a $40.00 price target on shares of Tower Semiconductor in a research report on Friday, May 10th. Craig Hallum increased their price target on shares of Tower Semiconductor from $40.00 to $44.00 and gave the company a buy rating in a research report on Friday, May 10th. Finally, Susquehanna upgraded shares of Tower Semiconductor from a neutral rating to a positive rating and increased their price target for the company from $36.00 to $55.00 in a research report on Friday, May 10th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, Tower Semiconductor has a consensus rating of Buy and a consensus price target of $46.33.

Tower Semiconductor Price Performance

Tower Semiconductor stock opened at $41.27 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.46 and a current ratio of 5.38. Tower Semiconductor has a 1 year low of $21.43 and a 1 year high of $42.49. The company’s 50-day moving average is $38.84 and its two-hundred day moving average is $34.29.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.08. Tower Semiconductor had a net margin of 35.27% and a return on equity of 8.78%. The company had revenue of $327.24 million for the quarter, compared to the consensus estimate of $325.00 million. As a group, research analysts expect that Tower Semiconductor will post 1.67 earnings per share for the current year.

Institutional Trading of Tower Semiconductor

Hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC acquired a new stake in Tower Semiconductor during the 4th quarter worth approximately $47,000. Quadrant Capital Group LLC raised its holdings in Tower Semiconductor by 34.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock worth $49,000 after buying an additional 413 shares during the period. Signaturefd LLC grew its stake in shares of Tower Semiconductor by 189.8% during the 4th quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 1,321 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $71,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Tower Semiconductor during the 1st quarter worth approximately $164,000. 70.51% of the stock is currently 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.