Tower Semiconductor (NASDAQ:TSEM) Given New $60.00 Price Target at Susquehanna

Tower Semiconductor (NASDAQ:TSEM) had its price objective 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 target price suggests a potential upside of 34.68% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Tower Semiconductor in a research report on Monday, September 9th. StockNews.com downgraded Tower Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Tower Semiconductor Stock Performance

NASDAQ TSEM opened at $44.55 on Thursday. The company has a market cap of $4.94 billion, a P/E ratio of 24.26 and a beta of 0.90. The company has a fifty day simple moving average of $43.62 and a 200 day simple moving average of $40.54. The company has a current ratio of 5.90, a quick ratio of 4.94 and a debt-to-equity ratio of 0.05. Tower Semiconductor has a 12-month low of $26.62 and a 12-month high of $50.25.

Hedge Funds Weigh In On Tower Semiconductor

Several hedge funds have recently modified their holdings of TSEM. Point72 Asset Management L.P. increased its position in shares of Tower Semiconductor by 203.8% during the third quarter. Point72 Asset Management L.P. now owns 3,105,383 shares of the semiconductor company’s stock valued at $137,444,000 after acquiring an additional 2,083,262 shares during the last quarter. Summit Partners Public Asset Management LLC increased its holdings in Tower Semiconductor by 1,146.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 1,496,315 shares of the semiconductor company’s stock worth $66,227,000 after buying an additional 1,376,315 shares during the last quarter. Y.D. More Investments Ltd boosted its stake in Tower Semiconductor by 9,622.0% in the second quarter. Y.D. More Investments Ltd now owns 911,926 shares of the semiconductor company’s stock valued at $35,952,000 after acquiring an additional 902,546 shares during the last quarter. Meitav Investment House Ltd. grew its position in shares of Tower Semiconductor by 25.6% during the 2nd quarter. Meitav Investment House Ltd. now owns 2,431,817 shares of the semiconductor company’s stock valued at $95,686,000 after acquiring an additional 495,380 shares during the period. Finally, Scopia Capital Management LP purchased a new stake in shares of Tower Semiconductor during the 3rd quarter worth approximately $13,926,000. 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.