Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM) have received a consensus rating of “Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.79.

TSEM has been the subject of a number of recent analyst reports. BidaskClub cut shares of Tower Semiconductor from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 21st. Loop Capital initiated coverage on shares of Tower Semiconductor in a research note on Thursday, June 21st. They issued a “buy” rating and a $46.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price (down from $32.00) on shares of Tower Semiconductor in a research note on Friday, July 27th. Credit Suisse Group lowered their target price on shares of Tower Semiconductor from $31.50 to $28.50 and set an “outperform” rating for the company in a research note on Friday, July 27th. Finally, Craig Hallum set a $29.00 target price on shares of Tower Semiconductor and gave the stock a “buy” rating in a research note on Thursday, August 23rd.

A number of institutional investors and hedge funds have recently bought and sold shares of TSEM. Mount Yale Investment Advisors LLC purchased a new position in Tower Semiconductor during the 1st quarter worth approximately $138,000. New England Research & Management Inc. purchased a new position in Tower Semiconductor during the 2nd quarter worth approximately $354,000. A.R.T. Advisors LLC purchased a new position in Tower Semiconductor during the 1st quarter worth approximately $484,000. Koch Industries Inc. raised its position in Tower Semiconductor by 48.0% during the 1st quarter. Koch Industries Inc. now owns 18,012 shares of the semiconductor company’s stock worth $485,000 after buying an additional 5,838 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Tower Semiconductor during the 2nd quarter worth approximately $485,000. 46.66% of the stock is owned by institutional investors.

Shares of NASDAQ:TSEM remained flat at $$20.40 during trading on Friday. 404,765 shares of the stock were exchanged, compared to its average volume of 670,949. The company has a market cap of $2.14 billion, a PE ratio of 9.23 and a beta of 1.03. The company has a quick ratio of 2.58, a current ratio of 3.07 and a debt-to-equity ratio of 0.11. Tower Semiconductor has a twelve month low of $19.26 and a twelve month high of $36.69.

Tower Semiconductor (NASDAQ:TSEM) last released its earnings results on Thursday, July 26th. The semiconductor company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The company had revenue of $335.10 million during the quarter, compared to analyst estimates of $335.00 million. Tower Semiconductor had a return on equity of 19.19% and a net margin of 19.58%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $0.49 earnings per share. Equities analysts expect that Tower Semiconductor will post 1.63 earnings per share for the current fiscal year.

About Tower Semiconductor

Tower Semiconductor Ltd. engages in the manufacture of integrated circuits. Its products include semiconductors and integrated circuits used in consumer electronics, personal computers, communications, automotive, industrial, and medical device products. The company was founded in 1993 and is headquartered in Migdal Haemek, Israel.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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