Tower Semiconductor Ltd. (NASDAQ:TSEM) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts remain broadly bullish on Tower Semiconductor, with six buy ratings, one strong buy and two holds producing a “Moderate Buy” consensus. The average 12-month price target is $290.67, with targets ranging from $270 to $367.
• Tower Semiconductor reported a quarterly earnings beat, posting $0.88 in EPS versus the $0.76 estimate and revenue of $460.08 million versus $454.68 million expected. Revenue increased 23.7% year over year.
• CEO Russell Craig Ellwanger sold 104,226 shares worth approximately $25.9 million, reducing his direct stake by 16.52%; institutional investors own 70.51% of the company.

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $290.6667.

A number of equities research analysts have weighed in on TSEM shares. Benchmark reiterated a "buy" rating on shares of Tower Semiconductor in a research note on Wednesday, August 5th. UBS Group reaffirmed a "buy" rating on shares of Tower Semiconductor in a report on Wednesday, July 15th. National Bank Financial upgraded shares of Tower Semiconductor to a "buy" rating in a research report on Friday, August 7th. Stifel Nicolaus began coverage on shares of Tower Semiconductor in a research note on Tuesday. They issued a "buy" rating and a $270.00 target price on the stock. Finally, Bank of America initiated coverage on shares of Tower Semiconductor in a research report on Friday, August 7th. They issued a "buy" rating and a $367.00 price target for the company.

Insider Buying and Selling at Tower Semiconductor

In other news, CEO Russell Craig Ellwanger sold 104,226 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $248.34, for a total value of $25,883,484.84. Following the completion of the transaction, the chief executive officer directly owned 526,788 shares of the company's stock, valued at approximately $130,822,531.92. This represents a 16.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Tower Semiconductor

A number of large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its holdings in shares of Tower Semiconductor by 254.2% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 418 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Advisory Services Network LLC bought a new position in Tower Semiconductor during the 3rd quarter valued at about $48,000. Kestra Advisory Services LLC acquired a new position in Tower Semiconductor in the fourth quarter valued at about $52,000. Hanson & Doremus Investment Management bought a new stake in Tower Semiconductor during the first quarter worth about $53,000. Finally, SBI Securities Co. Ltd. grew its stake in Tower Semiconductor by 344.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 520 shares of the semiconductor company's stock worth $61,000 after buying an additional 403 shares during the last quarter. 70.51% of the stock is currently owned by institutional investors.

Tower Semiconductor Trading Up 3.9%

Shares of TSEM opened at $206.81 on Thursday. The stock's 50-day moving average price is $231.92 and its 200 day moving average price is $213.59. The company has a quick ratio of 4.31, a current ratio of 4.91 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $23.26 billion, a price-to-earnings ratio of 81.74 and a beta of 0.88. Tower Semiconductor has a 12-month low of $61.27 and a 12-month high of $319.94.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.12. The company had revenue of $460.08 million during the quarter, compared to the consensus estimate of $454.68 million. Tower Semiconductor had a return on equity of 9.83% and a net margin of 16.94%.The company's quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. As a group, research analysts predict that Tower Semiconductor will post 3.57 earnings per share for the current year.

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.

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