Tower Semiconductor (NASDAQ:TSEM) Hits New 52-Week High – Here’s Why

Tower Semiconductor Ltd. (NASDAQ:TSEM) shares hit a new 52-week high on Wednesday . The company traded as high as $137.55 and last traded at $131.4240, with a volume of 48450 shares trading hands. The stock had previously closed at $132.62.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wedbush lowered Tower Semiconductor from an “outperform” rating to a “neutral” rating and set a $125.00 price target for the company. in a research report on Wednesday, December 31st. Benchmark restated a “buy” rating and set a $150.00 target price (up from $120.00) on shares of Tower Semiconductor in a report on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Susquehanna increased their price target on shares of Tower Semiconductor from $100.00 to $135.00 and gave the stock a “positive” rating in a research report on Tuesday, November 11th. Finally, Barclays lifted their price objective on shares of Tower Semiconductor from $74.00 to $97.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $126.75.

Tower Semiconductor Trading Up 0.7%

The company has a market cap of $14.08 billion, a price-to-earnings ratio of 77.11 and a beta of 0.87. The company has a quick ratio of 5.54, a current ratio of 6.61 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $118.07 and its two-hundred day simple moving average is $84.23.

Institutional Trading of Tower Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new stake in shares of Tower Semiconductor during the fourth quarter worth approximately $27,000. CIBC Private Wealth Group LLC grew its position in Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 300 shares during the last quarter. Westside Investment Management Inc. increased its stake in Tower Semiconductor by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 226 shares during the period. Advisory Services Network LLC acquired a new position in Tower Semiconductor in the 3rd quarter valued at $48,000. Finally, Covestor Ltd acquired a new position in shares of Tower Semiconductor during the third quarter worth about $52,000. 70.51% of the stock is owned by hedge funds and other institutional investors.

Tower Semiconductor Company Profile

Tower Semiconductor, traded on NASDAQ under the symbol TSEM, is a specialty foundry company that provides analog and mixed-signal semiconductor manufacturing services to a broad array of customers worldwide. The company focuses on delivering tailored process technologies for high-growth markets, including radio frequency (RF), power management, imaging, automotive electronics, and Internet of Things (IoT) applications. By combining deep process know-how with flexible manufacturing capabilities, Tower Semiconductor supports the development and volume production of advanced semiconductor devices for fabless and integrated device manufacturer customers.

The company’s technology portfolio spans standard and specialty processes such as CMOS, BiCMOS, high-voltage, radio frequency, silicon photonics, micro-electromechanical systems (MEMS) and image sensor production.