BidaskClub Downgrades Tower Semiconductor (TSEM) to Sell

Tower Semiconductor (NASDAQ:TSEM) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other analysts have also recently weighed in on TSEM. Credit Suisse Group began coverage on Tower Semiconductor in a report on Tuesday, September 26th. They issued an “outperform” rating and a $36.00 price target on the stock. Drexel Hamilton raised their price target on Tower Semiconductor from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. ValuEngine upgraded Tower Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Craig Hallum reiterated a “buy” rating and set a $39.00 price objective (up from $32.00) on shares of Tower Semiconductor in a research report on Wednesday, November 8th. Finally, Needham & Company LLC increased their price objective on Tower Semiconductor from $45.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $43.75.

Shares of Tower Semiconductor (TSEM) opened at $33.97 on Friday. Tower Semiconductor has a 1-year low of $19.92 and a 1-year high of $36.69. The firm has a market capitalization of $3,100.00, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.34.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.07. Tower Semiconductor had a return on equity of 27.82% and a net margin of 14.53%. equities research analysts forecast that Tower Semiconductor will post 2.02 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in TSEM. Winslow Evans & Crocker Inc. bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $120,000. SG Americas Securities LLC bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $207,000. Parametric Portfolio Associates LLC increased its position in shares of Tower Semiconductor by 9.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 10,304 shares of the semiconductor company’s stock valued at $246,000 after purchasing an additional 876 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Tower Semiconductor during the 2nd quarter valued at about $279,000. Finally, Spectrum Asset Management Inc. NB CA bought a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $290,000. Hedge funds and other institutional investors own 43.84% of the company’s stock.

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About Tower Semiconductor

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The Company focuses on producing integrated circuits (ICs) based on the design specifications of its customers. The Company manufactures semiconductors for its customers primarily based on third-party designs.

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