Tower Semiconductor (NASDAQ:TSEM) Shares Gap Up - What's Next?

Key Points

• Tower Semiconductor shares gapped higher, opening at $228.36 versus a prior close of $211.16, though they later traded near $214.98 on volume of 245,394 shares.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and a $276.75 average price target, with Susquehanna and Wedbush sharply raising their targets to $330 and $300, respectively.
• Institutional investors hold 70.51% of Tower Semiconductor’s shares, while the company’s specialty foundry business serves growth markets including RF, power management, imaging, automotive electronics, and IoT.

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $211.16, but opened at $228.36. Tower Semiconductor shares last traded at $214.9810, with a volume of 245,394 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Susquehanna increased their price objective on Tower Semiconductor from $180.00 to $330.00 and gave the company a "positive" rating in a report on Thursday, May 14th. Wedbush boosted their target price on Tower Semiconductor from $140.00 to $300.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. UBS Group reaffirmed a "buy" rating on shares of Tower Semiconductor in a research report on Wednesday, July 15th. Finally, Benchmark reiterated a "buy" rating on shares of Tower Semiconductor in a research note on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $276.75.

Tower Semiconductor Stock Performance

The company has a market cap of $25.04 billion, a PE ratio of 103.10 and a beta of 0.87. The company has a current ratio of 5.63, a quick ratio of 4.92 and a debt-to-equity ratio of 0.04. The firm's 50-day simple moving average is $250.47 and its two-hundred day simple moving average is $196.92.

Institutional Investors Weigh In On Tower Semiconductor

Large investors have recently made changes to their positions in the stock. Covestor Ltd grew its position in Tower Semiconductor by 10.8% in the fourth quarter. Covestor Ltd now owns 793 shares of the semiconductor company's stock worth $93,000 after acquiring an additional 77 shares during the period. Silverleafe Capital Partners LLC increased its stake in Tower Semiconductor by 3.0% during the second quarter. Silverleafe Capital Partners LLC now owns 2,860 shares of the semiconductor company's stock worth $745,000 after acquiring an additional 84 shares during the last quarter. Mackenzie Financial Corp raised its position in Tower Semiconductor by 2.6% in the third quarter. Mackenzie Financial Corp now owns 5,053 shares of the semiconductor company's stock valued at $359,000 after purchasing an additional 127 shares during the period. Evergreen Capital Management LLC raised its position in Tower Semiconductor by 2.6% in the fourth quarter. Evergreen Capital Management LLC now owns 5,118 shares of the semiconductor company's stock valued at $601,000 after purchasing an additional 131 shares during the period. Finally, Mariner LLC lifted its stake in shares of Tower Semiconductor by 2.4% in the 3rd quarter. Mariner LLC now owns 8,815 shares of the semiconductor company's stock valued at $637,000 after purchasing an additional 207 shares during the last quarter. 70.51% of the stock is owned by hedge funds and other 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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