Tower Semiconductor (TSEM) Stock Rating Lowered by BidaskClub

Tower Semiconductor (NASDAQ:TSEM) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC increased their price target on shares of Tower Semiconductor from $45.00 to $50.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. ValuEngine raised shares of Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $46.00 price target on shares of Tower Semiconductor in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $43.75.

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NASDAQ:TSEM opened at $26.91 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.89 and a quick ratio of 2.42. The stock has a market capitalization of $2,649.50, a price-to-earnings ratio of 12.18, a PEG ratio of 0.83 and a beta of 1.09. Tower Semiconductor has a 1-year low of $20.60 and a 1-year high of $36.69.

Tower Semiconductor (NASDAQ:TSEM) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $358.00 million during the quarter, compared to analysts’ expectations of $358.10 million. Tower Semiconductor had a net margin of 21.48% and a return on equity of 26.17%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 EPS. sell-side analysts expect that Tower Semiconductor will post 2.17 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of TSEM. Meitav Dash Investments Ltd. bought a new position in shares of Tower Semiconductor during the fourth quarter worth about $24,173,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Tower Semiconductor during the fourth quarter worth about $22,891,000. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Tower Semiconductor by 55.4% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 911,520 shares of the semiconductor company’s stock worth $31,065,000 after purchasing an additional 325,000 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Tower Semiconductor by 50.6% during the fourth quarter. Acadian Asset Management LLC now owns 688,437 shares of the semiconductor company’s stock worth $23,463,000 after purchasing an additional 231,396 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Tower Semiconductor during the fourth quarter worth about $6,371,000. 47.66% of the stock is currently owned by institutional investors and hedge funds.

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Tower Semiconductor Company Profile

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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