Tower Semiconductor (NASDAQ:TSEM) Trading Down 7.8% – Time to Sell?

Tower Semiconductor Ltd. (NASDAQ:TSEM) traded down 7.8% during trading on Monday . The company traded as low as $157.58 and last traded at $158.5490. 1,507,365 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 2,542,554 shares. The stock had previously closed at $171.92.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TSEM shares. Barclays lifted their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Susquehanna reaffirmed a “positive” rating and set a $180.00 target price on shares of Tower Semiconductor in a research report on Thursday, February 12th. Benchmark lifted their price target on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tower Semiconductor in a report on Monday, December 29th. Finally, Wedbush increased their price objective on Tower Semiconductor from $125.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Tower Semiconductor currently has a consensus rating of “Hold” and an average target price of $173.00.

Tower Semiconductor Trading Up 5.9%

The company has a quick ratio of 5.51, a current ratio of 6.48 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $137.09 and its two-hundred day moving average is $111.19. The company has a market capitalization of $20.90 billion, a PE ratio of 96.48 and a beta of 0.91.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.11. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business had revenue of $440.21 million for the quarter, compared to the consensus estimate of $439.81 million. During the same quarter last year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, sell-side analysts predict that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

A number of large investors have recently bought and sold shares of the business. Argent Trust Co purchased a new stake in shares of Tower Semiconductor during the 3rd quarter worth $287,000. Harbor Capital Advisors Inc. bought a new stake in Tower Semiconductor during the third quarter valued at about $1,168,000. American Century Companies Inc. boosted its position in Tower Semiconductor by 43.6% during the second quarter. American Century Companies Inc. now owns 548,700 shares of the semiconductor company’s stock valued at $23,786,000 after purchasing an additional 166,533 shares in the last quarter. Granahan Investment Management LLC grew its stake in Tower Semiconductor by 42.6% in the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company’s stock valued at $12,883,000 after purchasing an additional 53,208 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company’s stock valued at $168,591,000 after purchasing an additional 369,600 shares during the last quarter. Institutional investors own 70.51% of the company’s stock.

About Tower Semiconductor

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.