Tower Semiconductor (NASDAQ:TSEM) Sets New 12-Month High - Here's What Happened

Key Points

• Tower Semiconductor hit a new 52‑week high, trading as high as $228.99 (last $226.4660) on Tuesday with about 1.03M shares traded, an intraday rise of roughly 4.9%.
• Analysts have lifted targets—most notably Benchmark raised its target to $230 with a Buy—but the consensus remains a "Hold" with an average price target of $173.
• The company beat expectations with Q results of $0.78 EPS (vs. $0.67 expected) and $440.2M revenue (up 13.7% YoY); it has a $25.36B market cap, high P/E (~116.9), strong liquidity ratios, and ~70.5% institutional ownership.

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $228.99 and last traded at $226.4660, with a volume of 1032056 shares. The stock had previously closed at $215.06.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Benchmark increased their target price on shares of Tower Semiconductor from $165.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 26th. Susquehanna reiterated a "positive" rating and issued a $180.00 target price on shares of Tower Semiconductor in a research note on Thursday, February 12th. Wedbush increased their target price on shares of Tower Semiconductor from $125.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, February 12th. Finally, Barclays increased their target price on shares of Tower Semiconductor from $114.00 to $142.00 and gave the stock an "equal weight" rating in a research note on Friday, February 13th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $173.00.

Tower Semiconductor Stock Up 4.9%

The company has a current ratio of 6.48, a quick ratio of 5.51 and a debt-to-equity ratio of 0.05. The firm has a market cap of $25.36 billion, a P/E ratio of 116.86 and a beta of 0.85. The company's 50 day simple moving average is $169.23 and its 200-day simple moving average is $132.06.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.11. The business had revenue of $440.21 million for the quarter, compared to analysts' expectations of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business's revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. Research analysts forecast that Tower Semiconductor Ltd. will post 2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TSEM. Y.D. More Investments Ltd lifted its stake in Tower Semiconductor by 4.6% during the 4th quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company's stock worth $118,084,000 after acquiring an additional 44,401 shares in the last quarter. Argent Trust Co acquired a new position in Tower Semiconductor during the 3rd quarter worth about $287,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Tower Semiconductor by 0.8% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,002,806 shares of the semiconductor company's stock worth $352,589,000 after acquiring an additional 25,000 shares in the last quarter. Granahan Investment Management LLC lifted its stake in Tower Semiconductor by 42.6% during the 3rd quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company's stock worth $12,883,000 after acquiring an additional 53,208 shares in the last quarter. Finally, Rockingstone Advisors LLC acquired a new position in Tower Semiconductor during the 4th quarter worth about $5,296,000. 70.51% of the stock is currently owned by institutional investors.

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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