Tower Semiconductor (NASDAQ:TSEM) Shares Pass Above Two Hundred Day Moving Average of $35.97

Tower Semiconductor Ltd. (NASDAQ:TSEM)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $35.97 and traded as high as $41.57. Tower Semiconductor shares last traded at $41.43, with a volume of 428,230 shares traded.

Analyst Ratings Changes

TSEM has been the topic of several recent analyst reports. Susquehanna raised Tower Semiconductor from a “neutral” rating to a “positive” rating and increased their target price for the company from $36.00 to $55.00 in a report on Friday, May 10th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Tower Semiconductor in a research report on Friday, May 10th. StockNews.com downgraded Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a report on Friday, July 19th. Finally, Craig Hallum raised their price objective on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tower Semiconductor has a consensus rating of “Buy” and an average target price of $46.33.

Tower Semiconductor Price Performance

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 cap of $4.53 billion, a price-to-earnings ratio of 9.39 and a beta of 0.90. The stock has a 50-day moving average price of $39.92 and a 200 day moving average price of $36.02.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. The firm had revenue of $351.18 million for the quarter, compared to the consensus estimate of $350.00 million. As a group, equities research analysts forecast that Tower Semiconductor Ltd. will post 1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tower Semiconductor

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Tower Semiconductor by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock worth $126,808,000 after purchasing an additional 64,679 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Tower Semiconductor by 3.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,763,097 shares of the semiconductor company’s stock worth $147,927,000 after buying an additional 123,200 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Tower Semiconductor by 83.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock worth $96,456,000 after buying an additional 1,437,535 shares during the last quarter. Jennison Associates LLC increased its position in Tower Semiconductor by 28.1% in the 1st quarter. Jennison Associates LLC now owns 2,650,283 shares of the semiconductor company’s stock valued at $88,652,000 after acquiring an additional 580,610 shares during the period. Finally, Meitav Investment House Ltd. raised its stake in Tower Semiconductor by 25.6% during the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock valued at $95,686,000 after acquiring an additional 495,380 shares during the last quarter. 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.