Tower Semiconductor (TSEM) Cut to Sell at BidaskClub

BidaskClub downgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other equities analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a buy rating and set a $17.00 target price (down previously from $20.00) on shares of Tower Semiconductor in a research report on Tuesday, January 22nd. ValuEngine lowered shares of Tower Semiconductor from a hold rating to a sell rating in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Tower Semiconductor presently has an average rating of Buy and a consensus price target of $24.42.

Shares of TSEM stock opened at $17.08 on Friday. Tower Semiconductor has a 1 year low of $13.56 and a 1 year high of $30.39. The firm has a market cap of $1.65 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 4.85.

Tower Semiconductor (NASDAQ:TSEM) last announced its earnings results on Tuesday, February 19th. The semiconductor company reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. Tower Semiconductor had a net margin of 10.40% and a return on equity of 13.59%. The business had revenue of $333.59 million for the quarter, compared to analyst estimates of $338.08 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Tower Semiconductor’s revenue was down 6.7% compared to the same quarter last year. Analysts predict that Tower Semiconductor will post 1.32 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Tower Semiconductor by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 72,688 shares of the semiconductor company’s stock valued at $1,070,000 after buying an additional 3,417 shares during the period. Norges Bank bought a new stake in Tower Semiconductor in the 4th quarter valued at $23,491,000. Dimensional Fund Advisors LP increased its holdings in Tower Semiconductor by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 392,330 shares of the semiconductor company’s stock valued at $5,783,000 after buying an additional 1,973 shares during the period. Moab Capital Partners LLC increased its holdings in Tower Semiconductor by 1.5% in the 4th quarter. Moab Capital Partners LLC now owns 3,617,815 shares of the semiconductor company’s stock valued at $53,327,000 after buying an additional 54,350 shares during the period. Finally, Millennium Management LLC bought a new stake in Tower Semiconductor in the 4th quarter valued at $3,620,000. 45.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: What are Institutional Investors?

Analyst Recommendations for Tower Semiconductor (NASDAQ:TSEM)

Receive News & Ratings for Tower Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tower Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.