Tower Semiconductor (NASDAQ:TSEM) Given Buy Rating at Benchmark

Benchmark reaffirmed their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM - Free Report) in a research note released on Friday, Benzinga reports. The firm currently has a $40.00 price objective on the semiconductor company's stock.

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

Tower Semiconductor Trading Up 0.7 %

Tower Semiconductor stock traded up $0.27 during trading hours on Friday, reaching $36.71. 498,837 shares of the company's stock traded hands, compared to its average volume of 451,342. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.15 and a current ratio of 6.17. Tower Semiconductor has a fifty-two week low of $21.43 and a fifty-two week high of $42.00. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.89 and a beta of 0.93. The firm's 50 day moving average is $32.75 and its 200-day moving average is $30.18.

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

Institutional Investors Weigh In On Tower Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of TSEM. Quadrant Capital Group LLC grew its position in Tower Semiconductor by 34.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,615 shares of the semiconductor company's stock valued at $49,000 after acquiring an additional 413 shares during the last quarter. DGS Capital Management LLC grew its position in Tower Semiconductor by 5.5% in the first quarter. DGS Capital Management LLC now owns 15,246 shares of the semiconductor company's stock valued at $510,000 after acquiring an additional 789 shares during the last quarter. Byrne Asset Management LLC bought a new position in Tower Semiconductor in the third quarter valued at about $27,000. Signaturefd LLC grew its position in Tower Semiconductor by 189.8% in the fourth quarter. Signaturefd LLC now owns 2,017 shares of the semiconductor company's stock valued at $62,000 after acquiring an additional 1,321 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in Tower Semiconductor in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 70.51% of the company's stock.

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.