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

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

Several other research analysts have also commented on TSEM. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Thursday. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Susquehanna boosted their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Performance

Tower Semiconductor stock opened at $44.55 on Thursday. The company’s 50-day moving average price is $43.62 and its 200-day moving average price is $40.54. 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 twelve month low of $26.62 and a twelve month high of $50.25. The company has a market cap of $4.94 billion, a PE ratio of 24.26 and a beta of 0.90.

Institutional Investors Weigh In On Tower Semiconductor

Several hedge funds have recently made changes to their positions in TSEM. Senvest Management LLC increased its stake in shares of Tower Semiconductor by 1.7% during the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock valued at $368,262,000 after buying an additional 138,807 shares during the period. Vanguard Group Inc. grew its holdings in Tower Semiconductor by 1.7% during the 1st 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Tower Semiconductor by 3.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,763,097 shares of the semiconductor company’s stock valued at $147,927,000 after purchasing an additional 123,200 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Tower Semiconductor by 203.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock worth $137,444,000 after purchasing an additional 2,083,262 shares during the period. 70.51% of the stock is currently owned by hedge funds and other institutional investors.

Tower Semiconductor Company Profile

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.