Tower Semiconductor (NASDAQ:TSEM) Trading Up 8.2% - Still a Buy?

Shares of Tower Semiconductor Ltd. (NASDAQ:TSEM - Get Free Report) rose 8.2% during trading on Thursday . The stock traded as high as $48.90 and last traded at $49.38. Approximately 393,200 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 606,065 shares. The stock had previously closed at $45.64.

Wall Street Analyst Weigh In

Separately, Benchmark restated a "buy" rating and set a $60.00 target price on shares of Tower Semiconductor in a research report on Thursday, May 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Tower Semiconductor Price Performance

The company has a market cap of $5.42 billion, a P/E ratio of 27.04 and a beta of 0.79. The firm's 50-day moving average is $41.81 and its two-hundred day moving average is $42.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.93 and a quick ratio of 5.82.

Tower Semiconductor (NASDAQ:TSEM - Get Free Report) last posted its earnings results on Wednesday, May 14th. The semiconductor company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The business 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 7.73% and a net margin of 13.86%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. Analysts anticipate that Tower Semiconductor Ltd. will post 1.67 earnings per share for the current year.

Institutional Trading of Tower Semiconductor

A number of institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Tower Semiconductor in the fourth quarter valued at $1,347,000. Amundi grew its holdings in Tower Semiconductor by 86.3% during the 4th quarter. Amundi now owns 11,575 shares of the semiconductor company's stock valued at $598,000 after purchasing an additional 5,361 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tower Semiconductor by 5.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,593 shares of the semiconductor company's stock worth $1,421,000 after purchasing an additional 1,306 shares during the period. Harvest Fund Management Co. Ltd raised its position in Tower Semiconductor by 2,421.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 9,303 shares of the semiconductor company's stock worth $479,000 after purchasing an additional 8,934 shares during the period. Finally, American Century Companies Inc. bought a new stake in Tower Semiconductor in the fourth quarter worth about $20,015,000. 70.51% of the stock is currently owned by institutional investors.

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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