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Tower Semiconductor (NASDAQ:TSEM) Stock Price Up 6.2% - Should You Buy?

Tower Semiconductor logo with Computer and Technology background

Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report)'s share price rose 6.2% during trading on Thursday . The company traded as high as $46.39 and last traded at $46.39. Approximately 408,154 shares traded hands during trading, a decline of 31% from the average daily volume of 592,724 shares. The stock had previously closed at $43.67.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a "buy" rating and set a $60.00 price target 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 given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Read Our Latest Report on Tower Semiconductor

Tower Semiconductor Stock Performance

The company has a market capitalization of $5.21 billion, a P/E ratio of 25.99 and a beta of 0.79. The business's fifty day simple moving average is $40.42 and its 200-day simple moving average is $42.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 5.82 and a current ratio of 6.93.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Tower Semiconductor had a net margin of 13.86% and a return on equity of 7.73%. The company had revenue of $358.17 million during the quarter, compared to the consensus estimate of $358.09 million. During the same period in the previous year, the business earned $0.40 earnings per share. Tower Semiconductor's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

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

About Tower Semiconductor

(Get Free Report)

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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