Tower Semiconductor (NASDAQ:TSEM) Given New $60.00 Price Target at Susquehanna

Tower Semiconductor (NASDAQ:TSEM) had its target price raised by Susquehanna from $55.00 to $60.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

Several other equities analysts have also recently issued reports on TSEM. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Monday, September 9th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Stock Down 3.9 %

Shares of NASDAQ TSEM traded down $1.81 during midday trading on Thursday, hitting $44.49. The company’s stock had a trading volume of 381,274 shares, compared to its average volume of 519,844. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 24.26 and a beta of 0.90. The business’s fifty day simple moving average is $43.62 and its two-hundred day simple moving average is $40.54. Tower Semiconductor has a 1 year low of $26.62 and a 1 year high of $50.25.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors and hedge funds have recently bought and sold shares of TSEM. Transcendent Capital Group LLC purchased a new stake in Tower Semiconductor during the 3rd quarter valued at $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor during the third quarter valued at approximately $38,000. Blue Trust Inc. increased its holdings in Tower Semiconductor by 319.3% during the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,376 shares during the period. Signaturefd LLC lifted its stake in shares of Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after buying an additional 431 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Tower Semiconductor during the second quarter valued at $177,000. 70.51% of the stock is owned by institutional investors.

Tower Semiconductor Company Profile

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.