StockNews.com Downgrades Tower Semiconductor (NASDAQ:TSEM) to Hold

Tower Semiconductor (NASDAQ:TSEM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Benchmark reiterated a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.33.

Tower Semiconductor Trading Down 7.6 %

TSEM stock traded down $3.54 during trading on Tuesday, hitting $43.10. 1,440,408 shares of the company traded hands, compared to its average volume of 508,721. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. The company has a 50-day moving average of $43.34 and a 200-day moving average of $40.37. The firm has a market capitalization of $4.78 billion, a PE ratio of 9.73 and a beta of 0.90. Tower Semiconductor has a 1 year low of $22.30 and a 1 year high of $48.10.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of TSEM. Transcendent Capital Group LLC purchased a new position in Tower Semiconductor during the third quarter worth about $27,000. USA Financial Formulas purchased a new position in Tower Semiconductor during the 3rd quarter worth $38,000. Blue Trust Inc. increased its holdings in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,376 shares during the period. Signaturefd LLC raised its holdings in 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 purchasing an additional 431 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new position in Tower Semiconductor during the first quarter worth $164,000. 70.51% of the stock is owned by hedge funds and other 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.