Benchmark Reiterates Buy Rating for Tower Semiconductor (NASDAQ:TSEM)

Tower Semiconductor (NASDAQ:TSEM)‘s stock had its “buy” rating reissued by stock analysts at Benchmark in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $55.00 price target on the semiconductor company’s stock. Benchmark’s target price suggests a potential upside of 23.46% from the company’s previous close.

A number of other research firms also recently commented on TSEM. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday. Susquehanna boosted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Tower Semiconductor Price Performance

Shares of TSEM stock opened at $44.55 on Thursday. The company has a quick ratio of 4.94, a current ratio of 5.90 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 24.26 and a beta of 0.90. The stock has a 50-day moving average price of $43.62 and a 200 day moving average price of $40.54. Tower Semiconductor has a 12 month low of $26.62 and a 12 month high of $50.25.

Institutional Investors Weigh In On Tower Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its holdings in Tower Semiconductor by 203.8% during 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 in the last quarter. Summit Partners Public Asset Management LLC grew its holdings 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 worth $66,227,000 after buying an additional 1,376,315 shares in the last quarter. Y.D. More Investments Ltd raised its position in Tower Semiconductor by 9,622.0% in the 2nd quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company’s stock valued at $35,952,000 after buying an additional 902,546 shares during the last quarter. Meitav Investment House Ltd. lifted its stake in Tower Semiconductor by 25.6% in the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock valued at $95,686,000 after acquiring an additional 495,380 shares in the last quarter. Finally, Scopia Capital Management LP bought a new stake in Tower Semiconductor in the 3rd quarter valued at approximately $13,926,000. 70.51% of the stock is owned by institutional investors.

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.