Tower Semiconductor (TSEM) Stock Rating Reaffirmed by Needham & Company LLC

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Needham & Company LLC reaffirmed their buy rating on shares of Tower Semiconductor (NASDAQ:TSEM) in a research report sent to investors on Tuesday, January 22nd. The firm currently has a $17.00 target price on the semiconductor company’s stock, down from their previous target price of $20.00.

TSEM has been the topic of a number of other research reports. BidaskClub downgraded Tower Semiconductor from a hold rating to a sell rating in a research report on Thursday, October 18th. Craig Hallum set a $21.00 price objective on Tower Semiconductor and gave the stock a buy rating in a research report on Tuesday, October 30th. Jefferies Financial Group initiated coverage on Tower Semiconductor in a research report on Tuesday, October 9th. They issued a buy rating and a $30.00 price objective on the stock. Loop Capital reduced their target price on Tower Semiconductor to $28.00 and set a buy rating on the stock in a research note on Tuesday, October 30th. Finally, TheStreet cut Tower Semiconductor from a b- rating to a c+ rating in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $27.50.

Shares of TSEM stock traded down $0.07 on Tuesday, reaching $15.60. The company’s stock had a trading volume of 750,814 shares, compared to its average volume of 722,326. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.27 and a current ratio of 3.93. Tower Semiconductor has a 12-month low of $13.56 and a 12-month high of $34.28. The company has a market capitalization of $1.54 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.26.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Tower Semiconductor by 3.3% in the third quarter. Vanguard Group Inc. now owns 2,278,360 shares of the semiconductor company’s stock valued at $49,577,000 after acquiring an additional 72,781 shares during the last quarter. Vanguard Group Inc increased its stake in Tower Semiconductor by 3.3% in the third quarter. Vanguard Group Inc now owns 2,278,360 shares of the semiconductor company’s stock valued at $49,577,000 after acquiring an additional 72,781 shares during the last quarter. Macquarie Group Ltd. increased its stake in Tower Semiconductor by 0.6% in the third quarter. Macquarie Group Ltd. now owns 2,261,135 shares of the semiconductor company’s stock valued at $49,202,000 after acquiring an additional 12,710 shares during the last quarter. FIL Ltd increased its stake in Tower Semiconductor by 0.4% in the third quarter. FIL Ltd now owns 1,568,269 shares of the semiconductor company’s stock valued at $34,126,000 after acquiring an additional 6,269 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in Tower Semiconductor in the third quarter valued at $31,850,000. 47.04% of the stock is currently owned by institutional investors and hedge funds.

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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