Tower Semiconductor Ltd. (USA) (TSEM) Can’t Be More Hot. Just Reaches 52-Week High

September 2, 2017 - By Marie Mckinney

The stock of Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) hit a new 52-week high and has $32.06 target or 7.00 % above today’s $29.96 share price. The 7 months bullish chart indicates low risk for the $2.75 billion company. The 1-year high was reported on Sep, 2 by Barchart.com. If the $32.06 price target is reached, the company will be worth $192.50 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.83% or $0.25 on September 1, reaching $29.96. About 782,297 shares traded. Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) has risen 122.17% since September 2, 2016 and is uptrending. It has outperformed by 105.47% the S&P500.

Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) Ratings Coverage

Among 5 analysts covering TowerJazz (NASDAQ:TSEM), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. TowerJazz had 12 analyst reports since August 6, 2015 according to SRatingsIntel. The rating was maintained by Needham on Wednesday, June 21 with “Buy”. The stock of Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) earned “Buy” rating by Needham on Friday, June 9. The stock has “Hold” rating by Wells Fargo on Wednesday, August 2. Chardan Capital Markets maintained the stock with “Buy” rating in Thursday, August 6 report. Needham maintained the stock with “Buy” rating in Thursday, August 3 report. On Tuesday, December 15 the stock rating was initiated by Oppenheimer with “Outperform”. Needham maintained the stock with “Buy” rating in Monday, August 21 report. The stock has “Buy” rating by Drexel Hamilton on Tuesday, October 20. The rating was maintained by Drexel Hamilton on Thursday, August 3 with “Buy”. The company was initiated on Friday, January 22 by Needham.

Another recent and important Tower Semiconductor Ltd. (USA) (NASDAQ:TSEM) news was published by Benzinga.com which published an article titled: “Tower Semiconductor Reaches January 2011 Levels After Q4 Beat” on February 13, 2017.

Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The company has market cap of $2.75 billion. The Firm focuses on producing integrated circuits based on the design specifications of its customers. It has a 16.9 P/E ratio. The Firm makes semiconductors for its clients primarily based on third-party designs.

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