Tower Semiconductor (TSEM) Downgraded by BidaskClub to “Sell”

Tower Semiconductor (NASDAQ:TSEM) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities analysts also recently issued research reports about the company. Loop Capital lowered their price target on Tower Semiconductor to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Jefferies Financial Group lowered their price target on Tower Semiconductor from $30.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Craig Hallum set a $21.00 price target on Tower Semiconductor and gave the stock a “buy” rating in a research report on Tuesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Tower Semiconductor in a research report on Tuesday, October 30th. Finally, Standpoint Research raised Tower Semiconductor from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, August 28th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.50.

TSEM stock opened at $15.30 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 3.93. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 1.00 and a beta of 1.44. Tower Semiconductor has a 1-year low of $13.87 and a 1-year high of $36.69.

Tower Semiconductor (NASDAQ:TSEM) last released its quarterly earnings results on Monday, October 29th. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). The firm had revenue of $322.60 million during the quarter, compared to analyst estimates of $335.05 million. Tower Semiconductor had a net margin of 18.43% and a return on equity of 15.82%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. Analysts predict that Tower Semiconductor will post 1.56 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Taylor Frigon Capital Management LLC boosted its holdings in shares of Tower Semiconductor by 23.8% during the third quarter. Taylor Frigon Capital Management LLC now owns 138,114 shares of the semiconductor company’s stock worth $3,005,000 after acquiring an additional 26,562 shares during the period. Bank of America Corp DE boosted its holdings in shares of Tower Semiconductor by 10.9% during the second quarter. Bank of America Corp DE now owns 955,557 shares of the semiconductor company’s stock worth $21,031,000 after acquiring an additional 94,288 shares during the period. Bank of Montreal Can boosted its stake in shares of Tower Semiconductor by 7,262.1% in the second quarter. Bank of Montreal Can now owns 44,099 shares of the semiconductor company’s stock valued at $970,000 after buying an additional 43,500 shares during the period. FMR LLC bought a new stake in shares of Tower Semiconductor in the second quarter valued at approximately $3,922,000. Finally, OppenheimerFunds Inc. boosted its stake in shares of Tower Semiconductor by 11.1% in the second quarter. OppenheimerFunds Inc. now owns 228,347 shares of the semiconductor company’s stock valued at $5,026,000 after buying an additional 22,879 shares during the period. Institutional investors own 46.65% of the company’s stock.

About Tower Semiconductor

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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