Tower Semiconductor (NASDAQ:TSEM) Given “Buy” Rating at Benchmark

Benchmark restated their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report report published on Thursday,Benzinga reports. Benchmark currently has a $55.00 price target on the semiconductor company’s stock.

A number of other research analysts have also recently commented on TSEM. Susquehanna upped their price target on shares of Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a report on Thursday. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

Tower Semiconductor Price Performance

Shares of TSEM stock traded down $1.81 during mid-day trading on Thursday, hitting $44.49. The company had a trading volume of 381,274 shares, compared to its average volume of 519,844. The company has a market capitalization of $4.93 billion, a P/E ratio of 24.26 and a beta of 0.90. The stock’s 50 day moving average price is $43.62 and its 200-day moving average price is $40.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. Tower Semiconductor has a 52-week low of $26.62 and a 52-week high of $50.25.

Hedge Funds Weigh In On Tower Semiconductor

Several institutional investors have recently bought and sold shares of TSEM. Essex Investment Management Co. LLC raised 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 purchasing an additional 12,551 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Tower Semiconductor by 1.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock worth $145,961,000 after acquiring 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 $11,094,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Tower Semiconductor during the 3rd quarter worth about $573,000. Finally, Foundry Partners LLC bought a new stake in shares of Tower Semiconductor in the 2nd quarter worth approximately $519,000. 70.51% of the stock is owned by institutional investors and hedge funds.

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.