Craig Hallum Boosts Tower Semiconductor (NASDAQ:TSEM) Price Target to $44.00

Tower Semiconductor (NASDAQ:TSEM - Free Report) had its price objective lifted by Craig Hallum from $40.00 to $44.00 in a report published on Friday, Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company's stock.

A number of other analysts have also recently issued reports on the company. TheStreet raised Tower Semiconductor from a c+ rating to a b- rating in a research note on Friday, March 8th. Susquehanna raised shares of Tower Semiconductor from a neutral rating to a positive rating and raised their price target for the stock from $36.00 to $55.00 in a research note on Friday. Benchmark reaffirmed a buy rating and set a $40.00 price target on shares of Tower Semiconductor in a research note on Friday. Finally, StockNews.com raised shares of Tower Semiconductor from a hold rating to a buy rating in a research note on Monday, March 25th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $46.33.

Tower Semiconductor Stock Up 0.7 %

NASDAQ TSEM traded up $0.27 during trading hours on Friday, reaching $36.71. 498,837 shares of the company's stock were exchanged, compared to its average volume of 451,342. The company's 50-day moving average is $32.75 and its two-hundred day moving average is $30.18. Tower Semiconductor has a one year low of $21.43 and a one year high of $42.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.15 and a current ratio of 6.17. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.89 and a beta of 0.93.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its earnings results on Thursday, May 9th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.08. Tower Semiconductor had a return on equity of 9.33% and a net margin of 36.44%. The business had revenue of $327.24 million during the quarter, compared to analysts' expectations of $325.00 million. On average, analysts forecast that Tower Semiconductor will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Tower Semiconductor by 1.7% in the first quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company's stock valued at $126,808,000 after buying an additional 64,679 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in Tower Semiconductor during the 1st quarter valued at $164,000. William Blair Investment Management LLC acquired a new stake in Tower Semiconductor during the 1st quarter valued at $34,911,000. ProShare Advisors LLC acquired a new stake in Tower Semiconductor during the 1st quarter valued at $243,000. Finally, Russell Investments Group Ltd. lifted its holdings in Tower Semiconductor by 86.0% during the 1st quarter. Russell Investments Group Ltd. now owns 319,162 shares of the semiconductor company's stock valued at $10,676,000 after purchasing an additional 147,583 shares during the last quarter. 70.51% of the stock is owned by institutional investors.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.