StockNews.com upgraded shares of Tower Semiconductor (NASDAQ:TSEM – Free Report) from a hold rating to a buy rating in a research note published on Monday.
TSEM has been the topic of several other research reports. TheStreet raised shares of Tower Semiconductor from a c+ rating to a b- rating in a research note on Friday, March 8th. Susquehanna initiated coverage on shares of Tower Semiconductor in a research report on Thursday, February 29th. They set a neutral rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $36.33.
Check Out Our Latest Research Report on TSEM
Tower Semiconductor Trading Up 0.8 %
Tower Semiconductor (NASDAQ:TSEM – Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The semiconductor company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. The company had revenue of $351.71 million for the quarter, compared to the consensus estimate of $350.00 million. On average, sell-side analysts expect that Tower Semiconductor will post 1.52 earnings per share for the current year.
Institutional Trading of Tower Semiconductor
Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its holdings in shares of Tower Semiconductor by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 46,742 shares of the semiconductor company’s stock valued at $1,728,000 after purchasing an additional 349 shares in the last quarter. Maverick Capital Ltd. raised its stake in Tower Semiconductor by 5.4% in the first quarter. Maverick Capital Ltd. now owns 7,388 shares of the semiconductor company’s stock worth $314,000 after buying an additional 381 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Tower Semiconductor by 34.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company’s stock worth $49,000 after buying an additional 413 shares during the period. LPL Financial LLC boosted its position in Tower Semiconductor by 1.0% during the 2nd quarter. LPL Financial LLC now owns 49,191 shares of the semiconductor company’s stock valued at $2,272,000 after acquiring an additional 476 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Tower Semiconductor by 39.2% in the 4th quarter. US Bancorp DE now owns 2,666 shares of the semiconductor company’s stock valued at $81,000 after acquiring an additional 751 shares during the period. 70.51% of the stock is owned by hedge funds and other 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.
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