Tower Semiconductor (NASDAQ:TSEM) Shares Pass Above Two Hundred Day Moving Average of $35.97

Tower Semiconductor Ltd. (NASDAQ:TSEM) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $35.97 and traded as high as $41.57. Tower Semiconductor shares last traded at $41.43, with a volume of 428,230 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TSEM shares. Susquehanna raised Tower Semiconductor from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $36.00 to $55.00 in a research note on Friday, May 10th. StockNews.com lowered Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 19th. Craig Hallum upped their price objective on shares of Tower Semiconductor from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Benchmark reiterated a “buy” rating and set a $40.00 target price on shares of Tower Semiconductor in a report on Friday, May 10th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tower Semiconductor has an average rating of “Buy” and a consensus target price of $46.33.

Tower Semiconductor Price Performance

The firm has a market capitalization of $4.53 billion, a PE ratio of 9.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.94 and a current ratio of 5.90. The stock has a fifty day moving average price of $39.92 and a 200-day moving average price of $36.02.

Tower Semiconductor (NASDAQ:TSEM) last posted its earnings results on Wednesday, July 24th. The semiconductor company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.05. The company had revenue of $351.18 million for the quarter, compared to analyst estimates of $350.00 million. Tower Semiconductor had a return on equity of 8.33% and a net margin of 35.58%. Sell-side analysts forecast that Tower Semiconductor Ltd. will post 1.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Tower Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Theleme Partners LLP acquired a new position in shares of Tower Semiconductor during the fourth quarter worth $67,717,000. Norges Bank acquired a new position in Tower Semiconductor during the 4th quarter valued at about $45,303,000. Victory Capital Management Inc. raised its stake in Tower Semiconductor by 83.4% in the fourth quarter. Victory Capital Management Inc. now owns 3,160,410 shares of the semiconductor company’s stock valued at $96,456,000 after buying an additional 1,437,535 shares during the last quarter. Shannon River Fund Management LLC acquired a new stake in Tower Semiconductor in the fourth quarter worth about $38,538,000. Finally, William Blair Investment Management LLC purchased a new stake in shares of Tower Semiconductor during the first quarter worth about $34,911,000. Hedge funds and other institutional investors own 70.51% of the company’s stock.

About Tower Semiconductor

Tower Semiconductor Ltd., an independent semiconductor foundry, focus on specialty process technologies to manufacture analog intensive mixed-signal semiconductor devices in Israel, the United States, Japan, Europe, and internationally. It provides various customizable process technologies, including SiGe, BiCMOS, mixed signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.