Susquehanna Increases Tower Semiconductor (NASDAQ:TSEM) Price Target to $60.00

Tower Semiconductor (NASDAQ:TSEM) had its price target lifted by Susquehanna from $55.00 to $60.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s target price would indicate a potential upside of 23.92% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Tower Semiconductor Stock Performance

Shares of TSEM opened at $48.42 on Thursday. The firm has a 50-day moving average price of $43.38 and a 200 day moving average price of $40.44. The firm has a market capitalization of $5.37 billion, a PE ratio of 10.93 and a beta of 0.90. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 52-week low of $26.03 and a 52-week high of $50.25.

Institutional Investors Weigh In On Tower Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new stake in Tower Semiconductor during the third quarter valued at about $27,000. USA Financial Formulas purchased a new stake in Tower Semiconductor during the third quarter valued at about $38,000. Blue Trust Inc. lifted its stake in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,376 shares in the last quarter. Signaturefd LLC lifted its stake 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 in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Tower Semiconductor during the first quarter valued at about $164,000. 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.