Tower Semiconductor (NASDAQ:TSEM) Sees Unusually-High Trading Volume – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) saw unusually-high trading volume on Monday . Approximately 1,623,032 shares traded hands during trading, an increase of 83% from the previous session’s volume of 889,205 shares.The stock last traded at $95.3360 and had previously closed at $84.07.

Analyst Upgrades and Downgrades

TSEM has been the subject of a number of recent research reports. Susquehanna set a $66.00 target price on shares of Tower Semiconductor and gave the company a “positive” rating in a report on Tuesday, August 5th. Benchmark increased their price objective on shares of Tower Semiconductor from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Wedbush set a $65.00 price objective on shares of Tower Semiconductor and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Tower Semiconductor in a research report on Wednesday, October 8th. Finally, Barclays began coverage on shares of Tower Semiconductor in a report on Thursday, September 18th. They issued an “equal weight” rating and a $74.00 price target for the company. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.60.

Tower Semiconductor Stock Up 16.6%

The stock has a market cap of $10.86 billion, a PE ratio of 56.42 and a beta of 0.94. The business has a fifty day moving average of $72.48 and a 200-day moving average of $54.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.57 and a quick ratio of 5.50.

Institutional Investors Weigh In On Tower Semiconductor

Institutional investors have recently added to or reduced their stakes in the stock. Tectonic Advisors LLC grew its stake in shares of Tower Semiconductor by 29.2% during the first quarter. Tectonic Advisors LLC now owns 22,513 shares of the semiconductor company’s stock worth $803,000 after acquiring an additional 5,082 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Tower Semiconductor by 2.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,985,110 shares of the semiconductor company’s stock worth $70,789,000 after purchasing an additional 50,980 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in Tower Semiconductor in the 1st quarter worth approximately $477,000. Jennison Associates LLC grew its position in Tower Semiconductor by 2.3% during the 1st quarter. Jennison Associates LLC now owns 2,546,357 shares of the semiconductor company’s stock worth $90,803,000 after purchasing an additional 57,544 shares during the last quarter. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new position in Tower Semiconductor during the 1st quarter valued at approximately $33,211,000. Institutional investors 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.