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

Tower Semiconductor (NASDAQ:TSEM) had its price target upped by Craig Hallum from $54.00 to $60.00 in a report issued on Thursday,Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

Several other brokerages have also recently commented on TSEM. Susquehanna lifted their price objective on shares of Tower Semiconductor from $55.00 to $60.00 and gave the company a “positive” rating in a research note on Thursday. StockNews.com lowered shares of Tower Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Tower Semiconductor in a research report on Thursday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Tower Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $58.33.

Tower Semiconductor Stock Down 3.9 %

NASDAQ TSEM traded down $1.81 during trading on Thursday, reaching $44.49. 381,274 shares of the company’s stock traded hands, compared to its average volume of 519,844. 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 cap of $4.93 billion, a price-to-earnings ratio of 24.26 and a beta of 0.90. The company’s 50 day simple moving average is $43.62 and its two-hundred day simple moving average is $40.54. 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 and other institutional investors have recently modified their holdings of TSEM. Transcendent Capital Group LLC bought a new position in Tower Semiconductor during the 3rd quarter worth $27,000. USA Financial Formulas acquired a new position in shares of Tower Semiconductor during the 3rd quarter valued at about $38,000. Blue Trust Inc. increased its holdings in shares of Tower Semiconductor by 319.3% during the 3rd 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 during the last quarter. Signaturefd LLC grew its holdings in Tower Semiconductor by 21.1% in the 3rd quarter. Signaturefd LLC now owns 2,472 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 431 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Tower Semiconductor during the 1st quarter worth approximately $164,000. 70.51% of the stock is owned by institutional investors and hedge funds.

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.