Tower Semiconductor (NASDAQ:TSEM) Hits New 12-Month High – Should You Buy?

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $287.66 and last traded at $283.7630, with a volume of 80024 shares. The stock had previously closed at $279.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Susquehanna boosted their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a report on Thursday, May 14th. Benchmark boosted their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Barclays boosted their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Finally, Wedbush boosted their price target on Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tower Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $276.75.

Tower Semiconductor Price Performance

The company has a market capitalization of $31.87 billion, a price-to-earnings ratio of 132.44 and a beta of 0.85. The stock has a fifty day simple moving average of $200.70 and a 200-day simple moving average of $147.37. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.63 and a quick ratio of 4.92.

Tower Semiconductor (NASDAQ:TSEM) last announced its quarterly earnings results on Wednesday, May 13th. The semiconductor company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Tower Semiconductor had a return on equity of 8.54% and a net margin of 15.13%.The company had revenue of $413.63 million during the quarter, compared to the consensus estimate of $410.72 million. During the same period in the previous year, the company posted $0.35 earnings per share. Tower Semiconductor’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that Tower Semiconductor Ltd. will post 2.64 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. USA Financial Formulas acquired a new position in Tower Semiconductor in the fourth quarter valued at approximately $27,000. Hanson & Doremus Investment Management acquired a new position in Tower Semiconductor in the first quarter valued at approximately $53,000. CIBC Private Wealth Group LLC raised 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 buying an additional 300 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Tower Semiconductor during the 4th quarter worth approximately $52,000. Finally, Westside Investment Management Inc. raised its stake in shares of Tower Semiconductor by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 452 shares of the semiconductor company’s stock worth $34,000 after buying an additional 226 shares during the period. 70.51% of the stock is owned by institutional investors and hedge funds.

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.