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

Tower Semiconductor (NASDAQ:TSEM) had its price objective increased by Susquehanna from $55.00 to $60.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

A number of other equities research analysts have also issued reports on TSEM. Benchmark reaffirmed a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Price Performance

Shares of TSEM stock traded down $1.81 during trading hours on Thursday, reaching $44.49. The stock had a trading volume of 381,274 shares, compared to its average volume of 519,844. The firm has a market capitalization of $4.93 billion, a PE ratio of 24.26 and a beta of 0.90. Tower Semiconductor has a 12 month low of $26.62 and a 12 month high of $50.25. The stock’s fifty day simple moving average is $43.62 and its 200 day simple moving average is $40.54. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Tower Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its position in shares of Tower Semiconductor by 3.0% in the third quarter. Integrated Wealth Concepts LLC now owns 70,031 shares of the semiconductor company’s stock valued at $3,100,000 after purchasing an additional 2,070 shares during the last quarter. Maverick Capital Ltd. grew its stake in Tower Semiconductor by 3.0% in the 3rd quarter. Maverick Capital Ltd. now owns 40,134 shares of the semiconductor company’s stock valued at $1,776,000 after buying an additional 1,157 shares in the last quarter. Scopia Capital Management LP bought a new stake in shares of Tower Semiconductor during the 3rd quarter worth $13,926,000. PDT Partners LLC bought a new stake in Tower Semiconductor in the third quarter worth $2,015,000. Finally, Summit Partners Public Asset Management LLC increased its position in shares of Tower Semiconductor by 1,146.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock valued at $66,227,000 after buying an additional 1,376,315 shares during the period. 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.