Tower Semiconductor (NASDAQ:TSEM) PT Set at $66.00 by 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) has been assigned a $66.00 price target by Susquehanna in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a "positive" rating on the semiconductor company's stock. Susquehanna's price target would suggest a potential upside of 31.66% from the stock's current price.

Separately, Benchmark lifted their price objective on Tower Semiconductor from $60.00 to $66.00 and gave the company a "buy" rating in a report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.25.

Tower Semiconductor Stock Performance

NASDAQ:TSEM opened at $50.13 on Tuesday. The stock has a market cap of $5.56 billion, a P/E ratio of 28.81 and a beta of 0.77. The stock has a 50 day simple moving average of $43.92 and a 200 day simple moving average of $41.81. The company has a current ratio of 6.93, a quick ratio of 5.82 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 1-year low of $28.64 and a 1-year high of $55.31.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The semiconductor company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.06). The firm had revenue of $372.06 million for the quarter, compared to analyst estimates of $371.63 million. Tower Semiconductor had a return on equity of 7.45% and a net margin of 13.20%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. Research analysts anticipate that Tower Semiconductor will post 1.67 earnings per share for the current year.

Hedge Funds Weigh In On Tower Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Tower Semiconductor during the 1st quarter worth $551,000. Wealth Enhancement Advisory Services LLC boosted its stake in 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 buying an additional 1,138 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Tower Semiconductor in the fourth quarter valued at about $247,000. Fifth Third Bancorp boosted its stake in 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 Tower Semiconductor in the fourth quarter valued at about $249,000. 70.51% of the stock is 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.