Tower Semiconductor (NASDAQ:TSEM) Stock Price Down 3.3% - Here's Why

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) traded down 3.3% on Friday . The stock traded as low as $40.16 and last traded at $39.88. 454,840 shares were traded during mid-day trading, a decline of 20% from the average session volume of 571,081 shares. The stock had previously closed at $41.25.

Analyst Ratings Changes

Several brokerages have commented on TSEM. Benchmark reissued a "buy" rating and set a $60.00 price objective on shares of Tower Semiconductor in a research report on Thursday, May 15th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 price target on shares of Tower Semiconductor in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Tower Semiconductor Trading Down 3.0%

The company has a market capitalization of $4.43 billion, a P/E ratio of 21.46 and a beta of 0.75. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.23 and a current ratio of 6.18. The stock has a fifty day moving average of $37.31 and a 200 day moving average of $43.60.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. TCTC Holdings LLC raised its holdings in Tower Semiconductor by 117.9% during the first quarter. TCTC Holdings LLC now owns 706 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 382 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tower Semiconductor during the first quarter worth about $39,000. Blue Trust Inc. lifted its holdings in Tower Semiconductor by 12.7% in the 4th quarter. Blue Trust Inc. now owns 2,037 shares of the semiconductor company's stock worth $105,000 after purchasing an additional 230 shares in the last quarter. Headlands Technologies LLC purchased a new position in Tower Semiconductor in the 1st quarter worth approximately $75,000. Finally, Caption Management LLC bought a new position in Tower Semiconductor in the 4th quarter worth approximately $155,000. Hedge funds and other 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.

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