Tower Semiconductor (NASDAQ:TSEM) Given a $66.00 Price Target at Susquehanna

Key Points

• Analysts at Susquehanna and Benchmark have raised the price target for Tower Semiconductor from $60.00 to $66.00, indicating a potential upside of 29.46% from its previous closing price.
• The company reported earnings of $0.41 per share for its last quarter, which missed the consensus estimate, though revenue increased by 6.0% year-over-year.
• Institutional investors hold a significant stake in Tower Semiconductor, owning 70.51% of the company's stock, reflecting strong support from hedge funds and asset managers.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) received a $66.00 price target from equities researchers at Susquehanna in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has a "positive" rating on the semiconductor company's stock. Susquehanna's price objective indicates a potential upside of 36.84% from the company's current price.

Separately, Benchmark restated a "buy" rating and issued a $66.00 price objective (up from $60.00) on shares of Tower Semiconductor in a report on Monday, August 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.25.

Tower Semiconductor Price Performance

Shares of TSEM traded down $0.61 during mid-day trading on Tuesday, reaching $48.23. The company had a trading volume of 911,957 shares, compared to its average volume of 893,429. Tower Semiconductor has a twelve month low of $28.64 and a twelve month high of $55.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.57 and a quick ratio of 5.82. The company's 50-day moving average is $44.41 and its 200-day moving average is $41.79. The company has a market capitalization of $5.34 billion, a P/E ratio of 27.72 and a beta of 0.77.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its earnings results on Monday, August 4th. The semiconductor company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.06). The business had revenue of $372.06 million during the quarter, compared to analyst estimates of $371.63 million. Tower Semiconductor had a return on equity of 7.37% and a net margin of 13.20%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. On average, equities analysts anticipate that Tower Semiconductor will post 1.67 EPS for the current year.

Institutional Trading of Tower Semiconductor

Several hedge funds have recently bought and sold shares of TSEM. Cambridge Investment Research Advisors Inc. acquired a new position in Tower Semiconductor during the 1st quarter worth approximately $551,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Tower Semiconductor by 8.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,715 shares of the semiconductor company's stock valued at $525,000 after purchasing an additional 1,138 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Tower Semiconductor in the fourth quarter valued at approximately $247,000. Fifth Third Bancorp raised its position in shares of Tower Semiconductor by 18.0% in the first quarter. Fifth Third Bancorp now owns 9,885 shares of the semiconductor company's stock valued at $352,000 after buying an additional 1,509 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Tower Semiconductor in the fourth quarter valued at approximately $249,000. 70.51% of the stock is currently owned by institutional investors and hedge funds.

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.