TheStreet Downgrades Tower Semiconductor (TSEM) to C+

Tower Semiconductor (NASDAQ:TSEM) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Tuesday.

Several other equities research analysts also recently weighed in on TSEM. BidaskClub upgraded Tower Semiconductor from a “strong sell” rating to a “sell” rating in a report on Thursday, July 19th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target (down previously from $32.00) on shares of Tower Semiconductor in a report on Friday, July 27th. Credit Suisse Group cut their price target on Tower Semiconductor from $31.50 to $28.50 and set an “outperform” rating on the stock in a report on Friday, July 27th. Loop Capital cut their price target on Tower Semiconductor from $46.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, July 27th. Finally, Craig Hallum set a $29.00 price target on Tower Semiconductor and gave the stock a “buy” rating in a report on Thursday, August 23rd. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Tower Semiconductor presently has a consensus rating of “Buy” and a consensus price target of $26.50.

Shares of NASDAQ TSEM opened at $15.69 on Tuesday. The company has a current ratio of 3.93, a quick ratio of 2.58 and a debt-to-equity ratio of 0.21. Tower Semiconductor has a 1-year low of $13.87 and a 1-year high of $36.69. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 7.10, a P/E/G ratio of 0.92 and a beta of 1.03.

Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Monday, October 29th. The semiconductor company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Tower Semiconductor had a return on equity of 15.82% and a net margin of 18.43%. The company had revenue of $322.60 million for the quarter, compared to analysts’ expectations of $335.05 million. During the same quarter last year, the company earned $0.59 EPS. Tower Semiconductor’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research analysts expect that Tower Semiconductor will post 1.63 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. purchased a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $307,000. New England Research & Management Inc. purchased a new position in shares of Tower Semiconductor in the 2nd quarter valued at about $354,000. Foundry Partners LLC purchased a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $460,000. Trexquant Investment LP purchased a new position in shares of Tower Semiconductor in the 2nd quarter valued at about $485,000. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Tower Semiconductor in the 3rd quarter valued at about $504,000. Institutional investors own 47.14% of the company’s stock.

Tower Semiconductor Company Profile

Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.

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Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

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