Tower Semiconductor (NASDAQ:TSEM) Stock Price Down 3.3% - Time to Sell?

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report)'s share price was down 3.3% during mid-day trading on Friday . The company traded as low as $40.16 and last traded at $39.88. Approximately 454,840 shares changed hands during trading, a decline of 20% from the average daily volume of 571,081 shares. The stock had previously closed at $41.25.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TSEM shares. Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Tuesday, February 11th. Benchmark reiterated a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research note on Thursday, May 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Tower Semiconductor has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Tower Semiconductor Price Performance

The stock has a market cap of $4.59 billion, a P/E ratio of 22.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.18 and a quick ratio of 5.23. The business's fifty day moving average price is $37.47 and its 200 day moving average price is $43.46.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The company had revenue of $358.17 million during the quarter, compared to the consensus estimate of $358.09 million. Tower Semiconductor had a return on equity of 8.11% and a net margin of 14.47%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TSEM. Invesco Ltd. raised its holdings in Tower Semiconductor by 251.9% in the 4th quarter. Invesco Ltd. now owns 1,761,235 shares of the semiconductor company's stock valued at $90,721,000 after buying an additional 1,260,683 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management bought a new position in Tower Semiconductor in the 1st quarter valued at approximately $33,211,000. Point72 Asset Management L.P. raised its holdings in Tower Semiconductor by 21.0% in the 4th quarter. Point72 Asset Management L.P. now owns 3,758,574 shares of the semiconductor company's stock valued at $193,604,000 after buying an additional 653,191 shares during the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in Tower Semiconductor in the 4th quarter valued at approximately $33,034,000. Finally, Menora Mivtachim Holdings LTD. raised its holdings in Tower Semiconductor by 39.7% in the 1st quarter. Menora Mivtachim Holdings LTD. now owns 1,879,207 shares of the semiconductor company's stock valued at $67,013,000 after buying an additional 533,700 shares during the last quarter. Institutional investors own 70.51% of the company's stock.

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.