Tower Semiconductor (NASDAQ:TSEM) Upgraded by Susquehanna to “Positive”

Tower Semiconductor (NASDAQ:TSEM) was upgraded by analysts at Susquehanna from a “neutral” rating to a “positive” rating in a research report issued on Friday, MarketBeat.com reports. The firm currently has a $55.00 price objective on the semiconductor company’s stock, up from their prior price objective of $36.00. Susquehanna’s price objective would indicate a potential upside of 50.93% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. TheStreet upgraded Tower Semiconductor from a “c+” rating to a “b-” rating in a research note on Friday, March 8th. StockNews.com upgraded shares of Tower Semiconductor from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, Tower Semiconductor has an average rating of “Buy” and an average price target of $42.67.

Tower Semiconductor Trading Up 6.4 %

TSEM opened at $36.44 on Friday. The company has a quick ratio of 5.15, a current ratio of 6.17 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average is $32.69 and its two-hundred day moving average is $30.09. The company has a market capitalization of $3.98 billion, a P/E ratio of 7.84 and a beta of 0.93. Tower Semiconductor has a 52 week low of $21.43 and a 52 week high of $42.11.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.32 by $0.08. Tower Semiconductor had a net margin of 36.44% and a return on equity of 9.33%. The business had revenue of $327.24 million during the quarter, compared to analyst estimates of $325.00 million. Analysts forecast that Tower Semiconductor will post 1.52 earnings per share for the current year.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds have recently modified their holdings of TSEM. Baupost Group LLC MA acquired a new position in Tower Semiconductor during the 3rd quarter valued at approximately $69,996,000. Senvest Management LLC raised its position in Tower Semiconductor by 58.8% during the 4th quarter. Senvest Management LLC now owns 7,174,598 shares of the semiconductor company’s stock worth $218,969,000 after buying an additional 2,657,777 shares during the last quarter. Theleme Partners LLP acquired a new stake in Tower Semiconductor during the 4th quarter valued at approximately $67,717,000. Victory Capital Management Inc. purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at $42,314,000. Finally, Norges Bank acquired a new stake in shares of Tower Semiconductor in the fourth quarter worth $45,303,000. Institutional investors and hedge funds own 70.51% of the company’s stock.

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.