Tower Semiconductor (NASDAQ:TSEM) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Tower Semiconductor (NASDAQ:TSEM) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Separately, Benchmark reissued a “buy” rating and set a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.33.

Tower Semiconductor Trading Down 7.6 %

Shares of NASDAQ:TSEM opened at $43.10 on Tuesday. Tower Semiconductor has a 1 year low of $22.30 and a 1 year high of $48.10. The stock’s fifty day moving average price is $43.34 and its 200-day moving average price is $40.37. The company has a market cap of $4.78 billion, a P/E ratio of 9.73 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TSEM. Essex Investment Management Co. LLC increased its position in shares of Tower Semiconductor by 7.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 179,579 shares of the semiconductor company’s stock valued at $7,948,000 after purchasing an additional 12,551 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Tower Semiconductor during the first quarter valued at approximately $34,911,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Tower Semiconductor by 1.5% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,297,806 shares of the semiconductor company’s stock valued at $145,961,000 after buying an additional 50,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Tower Semiconductor during the third quarter valued at approximately $11,094,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Tower Semiconductor during the 3rd quarter worth $573,000. Institutional investors own 70.51% of the company’s stock.

Tower Semiconductor Company Profile

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.