Susquehanna Increases Tower Semiconductor (NASDAQ:TSEM) Price Target to $60.00

Tower Semiconductor (NASDAQ:TSEM) had its target price lifted by Susquehanna from $55.00 to $60.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “positive” rating on the semiconductor company’s stock. Susquehanna’s price target indicates a potential upside of 23.92% from the stock’s current price.

TSEM has been the subject of a number of other reports. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a research report on Tuesday. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Tower Semiconductor in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Tower Semiconductor Price Performance

NASDAQ TSEM opened at $48.42 on Thursday. The company has a 50 day simple moving average of $43.38 and a 200-day simple moving average of $40.44. The company has a debt-to-equity ratio of 0.05, a current ratio of 5.90 and a quick ratio of 4.94. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 10.93 and a beta of 0.90. Tower Semiconductor has a 52-week low of $26.03 and a 52-week high of $50.25.

Hedge Funds Weigh In On Tower Semiconductor

A number of institutional investors have recently modified their holdings of the company. Senvest Management LLC raised its position in shares of Tower Semiconductor by 1.7% in the third quarter. Senvest Management LLC now owns 8,320,433 shares of the semiconductor company’s stock valued at $368,262,000 after purchasing an additional 138,807 shares during the period. Vanguard Group Inc. increased its position in Tower Semiconductor by 1.7% during the first quarter. Vanguard Group Inc. now owns 3,790,957 shares of the semiconductor company’s stock worth $126,808,000 after acquiring an additional 64,679 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Tower Semiconductor by 3.4% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,763,097 shares of the semiconductor company’s stock worth $147,927,000 after acquiring an additional 123,200 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position 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 worth $145,961,000 after acquiring an additional 50,000 shares during the period. Finally, Jennison Associates LLC increased its position in Tower Semiconductor by 1.5% during the third quarter. Jennison Associates LLC now owns 2,790,991 shares of the semiconductor company’s stock worth $123,529,000 after acquiring an additional 40,038 shares during the period. 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.