Craig Hallum Forecasts Strong Price Appreciation for Tower Semiconductor (NASDAQ:TSEM) Stock

Tower Semiconductor (NASDAQ:TSEM) had its target price upped by investment analysts at Craig Hallum from $54.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price target points to a potential upside of 30.35% from the company’s previous close.

A number of other analysts have also recently commented on TSEM. Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Tower Semiconductor in a research note on Thursday. StockNews.com cut Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Susquehanna lifted their target price on Tower Semiconductor from $55.00 to $60.00 and gave the stock a “positive” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Down 4.9 %

TSEM stock traded down $2.39 during mid-day trading on Thursday, reaching $46.03. The company had a trading volume of 787,614 shares, compared to its average volume of 518,639. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 10.47 and a beta of 0.90. Tower Semiconductor has a 52 week low of $26.62 and a 52 week high of $50.25. The stock has a 50 day simple moving average of $43.52 and a two-hundred day simple moving average of $40.50. 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 Investors Weigh In On Tower Semiconductor

A number of institutional investors have recently made changes to their positions in TSEM. Transcendent Capital Group LLC bought a new stake in Tower Semiconductor in the 3rd quarter valued at $27,000. USA Financial Formulas bought a new stake in shares of Tower Semiconductor in the third quarter valued at about $38,000. Blue Trust Inc. grew its stake in shares of Tower Semiconductor by 319.3% in the third quarter. Blue Trust Inc. now owns 1,807 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,376 shares in the last quarter. Signaturefd LLC increased its position in Tower Semiconductor by 21.1% during the third quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock worth $109,000 after acquiring an additional 431 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Tower Semiconductor in the 2nd quarter worth about $177,000. 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.