Tower Semiconductor (TSEM) Lifted to Hold at BidaskClub

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BidaskClub upgraded shares of Tower Semiconductor (NASDAQ:TSEM) from a sell rating to a hold rating in a research report released on Friday morning.

Several other research analysts have also recently commented on the stock. Needham & Company LLC restated a buy rating and issued a $17.00 target price (down previously from $20.00) on shares of Tower Semiconductor in a research report on Tuesday, January 22nd. ValuEngine cut shares of Tower Semiconductor from a hold rating to a sell rating in a research report on Wednesday, January 2nd. TheStreet cut shares of Tower Semiconductor from a b- rating to a c+ rating in a research report on Tuesday, October 30th. Loop Capital decreased their target price on shares of Tower Semiconductor to $28.00 and set a buy rating for the company in a research report on Tuesday, October 30th. Finally, Jefferies Financial Group decreased their target price on shares of Tower Semiconductor from $30.00 to $24.00 and set a buy rating for the company in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $27.50.

NASDAQ TSEM opened at $15.60 on Friday. Tower Semiconductor has a 52 week low of $13.56 and a 52 week high of $34.28. The company has a quick ratio of 3.27, a current ratio of 3.93 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 7.06, a PEG ratio of 1.21 and a beta of 1.26.

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Tower Semiconductor in the 4th quarter valued at approximately $158,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $307,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $504,000. Foundry Partners LLC purchased a new stake in shares of Tower Semiconductor in the 3rd quarter valued at approximately $460,000. Finally, ARK Investment Management LLC lifted its position in shares of Tower Semiconductor by 30.3% in the 3rd quarter. ARK Investment Management LLC now owns 24,089 shares of the semiconductor company’s stock valued at $524,000 after acquiring an additional 5,597 shares in the last quarter. 47.04% of the stock is 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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