Tower Semiconductor (NASDAQ:TSEM) Sets New 52-Week High - Time to Buy?

Key Points

• TSEM hit a new 52-week high, trading as high as $205.80 (last $203.38) and trading well above the MarketBeat consensus target of $173, with some analysts upgrading targets up to $230 (Benchmark).
• The company reported a quarterly beat—EPS $0.78 vs. $0.67 expected and revenue $440.21M (+13.7% YoY)—with a net margin of 14.08%, signaling improving operating performance.
• Tower shows a strong balance sheet and investor interest (market cap ~$23.1B, debt/equity 0.05, quick ratio 5.51) but a high valuation (PE ~106.5) and mixed analyst ratings (2 Buys, 3 Holds; consensus: Hold).

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $205.80 and last traded at $203.3790, with a volume of 67719 shares trading hands. The stock had previously closed at $190.86.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TSEM. Wedbush raised their price objective on shares of Tower Semiconductor from $125.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, February 12th. Susquehanna restated a "positive" rating and set a $180.00 price objective on shares of Tower Semiconductor in a research note on Thursday, February 12th. Benchmark raised their price objective on shares of Tower Semiconductor from $165.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 26th. Weiss Ratings restated a "hold (c)" rating on shares of Tower Semiconductor in a research note on Monday, December 29th. Finally, Barclays raised their price objective on shares of Tower Semiconductor from $114.00 to $142.00 and gave the company 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 assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $173.00.

Tower Semiconductor Stock Performance

The business's fifty day moving average price is $143.34 and its 200-day moving average price is $115.61. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.51 and a current ratio of 6.48. The stock has a market cap of $23.09 billion, a PE ratio of 106.49 and a beta of 0.71.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The semiconductor company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.11. The firm had revenue of $440.21 million for the quarter, compared to the consensus estimate of $439.81 million. Tower Semiconductor had a net margin of 14.08% and a return on equity of 7.86%. The business's quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. As a group, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Institutional Trading of Tower Semiconductor

A number of institutional investors have recently made changes to their positions in TSEM. Argent Trust Co purchased a new position in shares of Tower Semiconductor in the third quarter worth approximately $287,000. Y.D. More Investments Ltd boosted its holdings in shares of Tower Semiconductor by 4.6% in the fourth quarter. Y.D. More Investments Ltd now owns 1,009,846 shares of the semiconductor company's stock worth $118,084,000 after buying an additional 44,401 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Tower Semiconductor in the third quarter worth approximately $1,168,000. Granahan Investment Management LLC boosted its holdings in shares of Tower Semiconductor by 42.6% in the third quarter. Granahan Investment Management LLC now owns 178,188 shares of the semiconductor company's stock worth $12,883,000 after buying an additional 53,208 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Tower Semiconductor by 18.8% in the third quarter. Jennison Associates LLC now owns 2,331,831 shares of the semiconductor company's stock worth $168,591,000 after buying an additional 369,600 shares during the last quarter. Hedge funds and other institutional investors own 70.51% of the company's stock.

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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