Tower Semiconductor (NASDAQ:TSEM) Rating Lowered to Sell at BidaskClub
TSEM has been the topic of a number of other reports. Credit Suisse Group boosted their price objective on Tower Semiconductor from $19.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, May 14th. Needham & Company LLC reiterated a buy rating and set a $27.00 price objective on shares of Tower Semiconductor in a research note on Wednesday, May 13th. Finally, Craig Hallum decreased their price objective on Tower Semiconductor from $26.00 to $25.00 and set a buy rating on the stock in a research note on Thursday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $24.33.
Shares of TSEM opened at $19.09 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.83 and a quick ratio of 3.11. Tower Semiconductor has a 1 year low of $12.13 and a 1 year high of $25.80. The firm has a market cap of $1.98 billion, a PE ratio of 25.12 and a beta of 1.42. The stock’s fifty day moving average price is $19.99 and its two-hundred day moving average price is $20.52.
Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in Tower Semiconductor by 5.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,922,286 shares of the semiconductor company’s stock worth $46,250,000 after buying an additional 97,300 shares in the last quarter. US Bancorp DE grew its position in Tower Semiconductor by 604.4% during the first quarter. US Bancorp DE now owns 24,120 shares of the semiconductor company’s stock worth $383,000 after buying an additional 20,696 shares in the last quarter. Norges Bank purchased a new position in Tower Semiconductor during the fourth quarter worth about $31,708,000. HighTower Advisors LLC grew its position in Tower Semiconductor by 9.8% during the first quarter. HighTower Advisors LLC now owns 210,473 shares of the semiconductor company’s stock worth $3,320,000 after buying an additional 18,815 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Tower Semiconductor in the 1st quarter worth about $2,036,000. Institutional investors and hedge funds own 53.83% of the company’s stock.
Tower Semiconductor Company Profile
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. It provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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