Tower Semiconductor (NASDAQ:TSEM) Price Target Raised to $60.00

Tower Semiconductor (NASDAQ:TSEM) had its target price raised by Craig Hallum from $54.00 to $60.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

TSEM has been the subject of a number of other reports. Susquehanna raised their target price on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a report on Thursday. Benchmark reiterated a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a research report on Thursday. Finally, StockNews.com downgraded shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Tower Semiconductor presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Tower Semiconductor Price Performance

Shares of Tower Semiconductor stock opened at $44.55 on Thursday. The firm has a market cap of $4.94 billion, a PE ratio of 24.08 and a beta of 0.90. The stock has a 50 day moving average of $43.70 and a 200 day moving average of $40.62. The company has a current ratio of 5.82, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 12 month low of $26.62 and a 12 month high of $50.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TSEM. Essex Investment Management Co. LLC lifted its holdings in shares of Tower Semiconductor by 7.5% in the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock worth $7,948,000 after acquiring an additional 12,551 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Tower Semiconductor by 1.5% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after purchasing an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Tower Semiconductor during the third quarter valued at approximately $11,094,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Tower Semiconductor during the third quarter valued at approximately $573,000. Finally, Foundry Partners LLC purchased a new stake in shares of Tower Semiconductor in the second quarter worth approximately $519,000. 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.