Tower Semiconductor (NASDAQ:TSEM) Reaches New 52-Week High – What’s Next?

Tower Semiconductor Ltd. (NASDAQ:TSEM) hit a new 52-week high on Monday . The company traded as high as $119.92 and last traded at $118.5510, with a volume of 727248 shares changing hands. The stock had previously closed at $114.01.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSEM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday. Wedbush raised their target price on shares of Tower Semiconductor from $85.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Barclays upped their price target on Tower Semiconductor from $74.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Susquehanna lifted their target price on shares of Tower Semiconductor from $100.00 to $135.00 and gave the company a “positive” rating in a report on Tuesday, November 11th. Finally, Benchmark upped their price target on shares of Tower Semiconductor from $73.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Tower Semiconductor currently has a consensus rating of “Moderate Buy” and an average target price of $119.25.

Tower Semiconductor Stock Performance

The business has a 50-day moving average of $90.42 and a 200 day moving average of $64.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.61 and a quick ratio of 5.54. The company has a market cap of $14.02 billion, a PE ratio of 73.55 and a beta of 0.88.

Institutional Trading of Tower Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC boosted its stake in shares of Tower Semiconductor by 254.2% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 300 shares during the last quarter. Westside Investment Management Inc. raised its holdings in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 226 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Tower Semiconductor during the first quarter valued at $39,000. Advisory Services Network LLC purchased a new position in Tower Semiconductor during the third quarter valued at $48,000. Finally, Covestor Ltd bought a new stake in Tower Semiconductor during the third quarter valued at about $52,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

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.