Tower Semiconductor (NASDAQ:TSEM) Stock Price Down 7.9% – Should You Sell?

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) fell 7.9% during trading on Friday . The company traded as low as $253.20 and last traded at $253.8260. 1,307,518 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 2,559,963 shares. The stock had previously closed at $275.50.

Analyst Upgrades and Downgrades

TSEM has been the subject of a number of research reports. Barclays raised their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. Wedbush raised their target price on shares of Tower Semiconductor from $140.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Benchmark raised their target price on shares of Tower Semiconductor from $230.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Susquehanna raised their target price on shares of Tower Semiconductor from $180.00 to $330.00 and gave the stock a “positive” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $276.75.

Tower Semiconductor Trading Down 9.5%

The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average price is $216.10 and its 200-day moving average price is $154.31. The company has a market cap of $28.04 billion, a price-to-earnings ratio of 116.12 and a beta of 0.85.

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

Institutional Trading of Tower Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd increased its stake in Tower Semiconductor by 10.8% during the 4th quarter. Covestor Ltd now owns 793 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 77 shares in the last quarter. Mackenzie Financial Corp increased its stake in Tower Semiconductor by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company’s stock valued at $359,000 after purchasing an additional 127 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Tower Semiconductor by 2.6% during the 4th quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company’s stock valued at $601,000 after purchasing an additional 131 shares in the last quarter. Mariner LLC increased its stake in Tower Semiconductor by 2.4% during the 3rd quarter. Mariner LLC now owns 8,815 shares of the semiconductor company’s stock valued at $637,000 after purchasing an additional 207 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in Tower Semiconductor by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 7,848 shares of the semiconductor company’s stock valued at $922,000 after purchasing an additional 218 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

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.