News

Fintel reports that on May 10, 2024, Susquehanna upgraded their outlook for Tower Semiconductor (NasdaqGS:TSEM) from Neutral to Positive.

Analyst Price Forecast Suggests 5.14% Upside

As of May 8, 2024, the average one-year price target for Tower Semiconductor is 38.31. The forecasts range from a low of 34.34 to a high of $42.00. The average price target represents an increase of 5.14% from its latest reported closing price of 36.44.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Tower Semiconductor is 1,709MM, an increase of 22.57%. The projected annual non-GAAP EPS is 3.37.

What is the Fund Sentiment?

There are 337 funds or institutions reporting positions in Tower Semiconductor. This is an decrease of 71 owner(s) or 17.40% in the last quarter. Average portfolio weight of all funds dedicated to TSEM is 0.31%, an increase of 39.74%. Total shares owned by institutions increased in the last three months by 6.61% to 77,933K shares.

The put/call ratio of TSEM is 0.34, indicating a bullish outlook.

What are Other Shareholders Doing?

Senvest Management holds 7,175K shares representing 6.47% ownership of the company. In its prior filing, the firm reported owning 4,014K shares , representing an increase of 44.06%. The firm increased its portfolio allocation in TSEM by 119.94% over the last quarter.

Clal Insurance Enterprises Holdings holds 5,617K shares representing 5.07% ownership of the company. In its prior filing, the firm reported owning 5,862K shares , representing a decrease of 4.36%. The firm decreased its portfolio allocation in TSEM by 9.77% over the last quarter.

Harel Insurance Investments & Financial Services holds 3,640K shares representing 3.28% ownership of the company. In its prior filing, the firm reported owning 2,824K shares , representing an increase of 22.43%. The firm increased its portfolio allocation in TSEM by 55.62% over the last quarter.

Victory Capital Management holds 3,239K shares representing 2.92% ownership of the company. In its prior filing, the firm reported owning 3,160K shares , representing an increase of 2.43%. The firm decreased its portfolio allocation in TSEM by 11.39% over the last quarter.

Phoenix Holdings holds 2,819K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 3,668K shares , representing a decrease of 30.14%. The firm decreased its portfolio allocation in TSEM by 2.91% over the last quarter.

Tower Semiconductor Background Information
(This description is provided by the company.)

Tower Semiconductor Ltd., the leader in high-value analog semiconductor foundry solutions, provides technology and manufacturing platforms for integrated circuits (ICs) in growing markets such as consumer, industrial, automotive, mobile, infrastructure, medical and aerospace and defense. Tower Semiconductor's focuses on creating positive and sustainable impact on the world through long term partnerships and its advanced and innovative analog technology offering, comprised of a broad range of customizable process platforms such as SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors, integrated power management (BCD and 700V), and MEMS. Tower Semiconductor also provides world-class design enablement for a quick and accurate design cycle as well as Transfer Optimization and development Process Services (TOPS) to IDMs and fabless companies. To provide multi-fab sourcing and extended capacity for its customers, Tower Semiconductor operates two manufacturing facilities in Israel (150mm and 200mm), two in the U.S. (200mm) and three facilities in Japan (two 200mm and one 300mm) through TPSCo.

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This story originally appeared on Fintel.

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